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Public finance > 6-8 > Flashcards

6-8 Flashcards

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1
Q

Expenditures related to maintaining law and order, defense, and general administration.

A

General Public Services

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2
Q

Investments in infrastructure, agriculture, industry, and commerce

A

Economic Affairs

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3
Q

FUNCTIONAL CLASSIFICATION

A

7

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4
Q

Funding for healthcare services, facilities, and public health programs.

A

Health

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5
Q

Expenditures on schools, universities, and educational programs

A

Education

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6
Q

Spending on social welfare programs, pensions, and poverty alleviation.

A

Social Protection

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7
Q

JUSTIFICATION OF PUBLIC EXPENDITURE

A

5

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8
Q

Governments spend to promote the general welfare, ensuring citizens have access to essential services like healthcare, education, and social protection.

A

Public Interest and Welfare

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9
Q

Public expenditures are often justified by their contribution to economic growth, job creation, and the development of infrastructure.

A

Economic Development

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10
Q

Social welfare programs and progressive taxation can be justified as mechanisms to reduce income inequality and provide a safety net for vulnerable populations.

A

Redistribution of Income

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11
Q

Government funding is essential for providing public goods and services that may not be efficiently supplied by the private sector, such as national defense, public safety, and environmental protection.

A

Public Goods and Services

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12
Q

Counter-cyclical fiscal policies involve increased public spending during economic downturns to stimulate demand and support economic recovery.

A

Cyclical Stabilization

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13
Q

EXPENDITURE POLICIES OF THE GOV’T

A

7

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14
Q

use of government spending and taxes to shape the economy. boosting government spending or lowering taxes in order to boost aggregate demand and stimulate economic growth during times of recession or low activity

A

Fiscal Policy

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15
Q

provide citizens with the necessary support and resources. It includes support for healthcare systems, education from preschool to higher education, social welfare programs like unemployment insurance and food stamps, and housing programs. These investments are critical for enhancing residents’ well-being, lowering inequality, and boosting social mobility.

A

Social Services

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16
Q

investments in physical structures and facilities that promote economic activity and quality of life.

A

Infrastructure

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17
Q

preserve national interests, protect populations, and maintain peace and stability. includes military personnel, equipment, operations, research, and development. Law enforcement, intelligence services, border security, and counterterrorism activities.

A

Defense and Security

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18
Q

providing cash to monitor and repay government debts. It includes both interest payments on ongoing debt and principal repayments.

A

Public Debt Servicing

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19
Q

provided to specific companies or sectors to help them grow or to decrease consumer costs. -include direct payments or benefits to people or households, such as unemployment insurance, pensions, disability benefits, and social assistance programs. These expenditures are intended to alleviate hardship, eliminate inequality, and promote economic activity.

A

Subsidies and Transfers

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20
Q

allocating cash to safeguard the environment, save resources, and mitigate climate change.

A

Environmental and Climate Initiatives

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21
Q

promotes scientific discovery, technical advancement, and economic competitiveness.

A

Research and Innovation

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22
Q

-Governments set aside funds for disaster preparedness, response, and recovery operations following natural disasters, pandemics, or other calamities. Prompt and effective disaster response is critical to saving lives, safeguarding property, and rebuilding communities.

A

Disaster Relief and Emergency Response

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23
Q

help fund development projects. It may also include humanitarian help in the event of a natural disaster, conflict, or humanitarian crisis.

A

Foreign Aid

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24
Q

Occurances

A

4

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25
Q

an economic practice which is aimed at levelling the distribution of wealth or income in a society through a direct or indirect transfer of income from the rich to the poor.

A

Income Redistribution

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26
Q

They adapt economic policies and strategies like progressive taxation to implement this phenomenon.

A

Economists / Government

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27
Q

Types of Income Redistribution Program

A

4

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28
Q

a system where individuals with higher incomes are taxed at higher rates compared to those with lower incomes. This means that the wealthy contribute a larger share of their income in taxes, which can then be used for social welfare programs and other forms of income redistribution.

A

Progressive Taxation

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29
Q

encompass a wide range of initiatives aimed at providing assistance and support to individuals and families in need. These programs can include cash transfers, food assistance, healthcare subsidies, housing assistance, and education grants. They help to alleviate poverty and provide a safety net for vulnerable population

A

Social Welfare Programs

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30
Q

set a legally mandated minimum wage that employers must pay their workers. By ensuring that workers receive a fair and decent wage

A

Minimum Wage Laws

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31
Q

measures that aim to address wealth disparities by redistributing wealth from the rich to the poor.

A

Wealth Redistribution Policies

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32
Q

transfer of income and wealth (including physical property) from some individuals to others through a social mechanism

A

Redistribution of Income and Wealth

33
Q

policies or mechanisms that aim to reduce income inequality by transferring resources from higher-income individuals or households to lower-income individuals or households.

A

Income Redistribution

34
Q

policies or mechanisms that aim to reduce wealth inequality by transferring wealth or assets from wealthier individuals or households to those with fewer assets or wealth.

A

Redistribution of Wealth

35
Q

distribution of resources, wealth, or opportunities in a society in a way that aims to reduce inequalities and promote fairness.

A

Concept of Redistribution

36
Q

how government entities use the funds they collect from taxes, fees, and other sources of revenue. about how governments manage and allocate funds to provide essential services and support the well-being of their citizens.

A

Utilization of Income

37
Q

government utilizes income to finance its expenditures, which include various sectors such as education, healthcare, infrastructure, defense, social welfare programs, and public administration.

A

Public Expenditure

38
Q

infrastructure development, research and development, and technology advancements. aims to stimulate economic growth, enhance productivity, and improve the overall well-being of society.

A

Public Investment

39
Q

The utilization of income also includes managing the government’s debt obligations.

A

Public Debt Repayment

40
Q

Less equal societies have less stable economies. High levels of income inequality are linked to economic instability, financial crisis, debt and inflation.

A

Economic effects of inequalities

41
Q

At a ____ level, inequality increases ill health and health spending and reduces the educational performance of the poor.

A

Microeconomic

42
Q

-High levels of inequality can hinder economic growth. When wealth and income are concentrated in the hands of a few, the majority of people have less purchasing power, which can lead to reduced demand for goods and services. This, in turn, can stifle investment and innovation, ultimately hampering economic expansion.

A

Reduced Economic Growth

43
Q

Inequality often correlates with limited social mobility, where individuals from disadvantaged backgrounds find it harder to climb the economic ladder.

A

Social Mobility Constraints

44
Q
  • Inequality can lead to underinvestment in education and health care among marginalized groups. When individuals lack access to quality education and healthcare, their productivity and earning potential suffer, perpetuating the cycle of inequality and hindering overall economic progress.
A

Underinvestment in Human Capital

45
Q

-High levels of inequality can breed _____ and social unrest. When a significant portion of the population feels disenfranchised and excluded from economic opportunities, it can lead to political polarization, protests, and even violence, which can disrupt economic activity and scare off investors.

A

Political Instability

46
Q

Extreme inequality can ___________ and undermine competition. Concentrated wealth can give certain individuals or corporations disproportionate influence over political and economic decision-making processes, leading to policies that favor the interests of the wealthy at the expense of the broader population.

A

Market distortions

47
Q
  • Inequality can lead to ____________ for goods and services, as lower- and middle-income households have less disposable income to spend. This can dampen economic growth, as businesses may struggle to find customers for their products and services.
A

Reduced Consumer Demand

48
Q

Persistent inequality tends to widen the gap between the rich and the poor, which can have detrimental effects on social cohesion and stability.

A

Widening Wealth Gap

49
Q

Types of Redistribution

A

6

50
Q

Inequalities’ economic effect

A

7

51
Q

This refers to government initiatives that use welfare and taxation to transfer resources from higher-income people and groups to lower-income ones in an effort to lessen income disparity.

A

Income Redistriution

52
Q

This is similar to redistribution of income in that policies target wealthier individuals or groups with taxes, with the proceeds going toward social programs or wealth transfers to less affluent groups in the community.

A

Wealth Redistribution

53
Q

This entails the redistribution of material or monetary resources, such as capital or land, typically via asset transfer programs, nationalization laws, or land reforms.

A

Asset Redistribution

54
Q

all of the policies and initiatives designed to guarantee everyone, regardless of socioeconomic background, equal access to opportunities and necessities like housing, work, healthcare, and education.

A

Social Redistribution

55
Q

Policies like social security systems, which move funds from people in their working years to retirees, are meant to balance resources between generations.

A

Intergenerational Redistribution

56
Q

Initiatives for regional development, infrastructure improvements, or targeted subsidies with the goal of lessening wealth, income, and development gaps between areas.

A

Regional Redistribution

57
Q

often includes funding for social services because its goal is to create economic stability and opportunities for society’s less affluent people (basically closing the wealth gap).

A

Income Redistribution

58
Q

describes the socially engineered transfer of income and wealth from some people to others

A

Redistribution of Wealth

59
Q

can be implemented through land reform that transfers ownership of land from one category of people to another, or through inheritance taxes, land value taxes or a broader wealth tax on assets in general.

A

Wealth Redistribution

60
Q

tool used by the government to redistribute wealth and promote social equality.

A

Taxation

61
Q

Two income redistribution strategies

A

Direct and Indirect

62
Q

-The claim that income redistribution compromises efficacy and fairness is a frequent political defense used against such policies. A government whose main purpose is to provide common services, like as defense spending, does not require as much money, and therefore, higher tax rates, as one whose major anti-poverty measures do.

A

Income Redistribution Policy

63
Q

-Refer to financial contributions made to infrastructure, healthcare, and education that primarily assist low-income populations.

A

Public Services

64
Q

-The redistribution of land ownership with the aim of promoting more equitable access to resources and minimizing discrepancies in land ownership.

A

Land Reform

65
Q
  • Government-funded programs that assist low-income people and families, such as food stamps, housing subsidies, and healthcare subsidies.
A

Subsidiaries and vouchers

66
Q

-Generally, in order to receive benefits during retirement, disability, or survivor status, workers and employers must make contributions to the system during their working years.

A

Social Security

67
Q
  • Ensuring low-income individuals and families have access to cheap healthcare will ease their financial burden and enhance their general financial stability.
A

Healthcare Programs

68
Q

-Direct payments to households with low incomes, like TANF and the Earned Income Tax Credit (EITC).

A

Cash Transfer Program

69
Q

People can boost their earning potential and climb the economic ladder by investing in education and job training programs.

A

Education and Training Program

70
Q

-These comprise a range of aid to low-income individuals and families, including cash transfers, food stamps, housing help, and unemployment benefits.

A

Social Welfare Programs

71
Q

-Outright financial aid or subsidies given to particular populations, such senior citizens, families with young children, or people with disabilities.

A

Progressive Transfer Program

72
Q

-Taxes on accumulated wealth, such as property taxes or inheritance taxes, can help redistribute wealth from the wealthy to the less affluent.

A

Wealth Taxes

73
Q

-By ensuring that even the lowest-paid workers receive a certain amount of money, __________- help to reduce economic inequality.

A

Minimum Wage Laws

74
Q

-Individuals and families with low income can get direct cash transfers or subsidies, such the Earned Income Tax Credit (EITC) in the US.

A

Income Support

75
Q

-This program efficiently supplements the income of low- to moderate-income working individuals and families by offering a refundable tax credit.

A

Earned Income Tax Credit

76
Q

-Giving every citizen a fixed amount of money every month, without regard to their employment status or income level.

A

Universal Basic Income

77
Q

Different Programs of Income Redistribution

A

15

78
Q
A

Public finance (1 decks)

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