4/11 test Flashcards
Free enterprise
The freedom for you to own a business to make money without the Gov’t telling you what to do
Monetary policy
The federal Reserve system controls how much money is out in the US
Deficit
When the U.S. Gov’t spends more than it makes
Fiscal policy
How the Gov’t manages it money—How it spends and makes it
National Debt
the total amount of money borrowed by the Gov’t
Entitlement
a payment required by law given to people who qualify example: Social Security, Military Benefits
Public Policy (Domestic Policy)
how the Gov’t decides to solve problems within the U.S.
Public assistance
Aid programs that are paid for by states and federal tax money examples: food stamps, free meals in schools, WIC etc.
Social security (Social Insurance programs)
Programs developed to help the elderly, I’ll and unemployed examples: social security, Medicare, Supplemental Income for the Blind
Wellfare (Food stamps)
Aid giving by the government or private programs for needy people
Monopolies
a business or group the has sole control over an industry—there is no competition
Client politics
A policy in which one small group benefits and almost everybody pays
Majoritarian Politics
A policy in which almost everybody benefits and almost everybody pays
Entrepreneurial Politics
A policy in which almost everybody benefits and a small group pays
Interest Group Politics
A policy in which one small group benefits and another small group pays
