amer govt FINAL EXAM Flashcards
What is the type of govt policy that governs taxing and spending powers?
Fiscal Policy
What priority is promoting human rights in comparison to other foreign policy concerns?
last/least priority
Politics of black rights has shifted from voting and employment to other areas, such as discrimination of law enforcement agencies from 2014-2020 is called ?
Black Lives Matter - Stop mass-incarceration, advocating full voting rights for ex felons
why is law and order necessary for a healthy market economy?
so people are productive and are safe
discuss the importance of monetary policies in relationship to the growth of the econ and its effects on banks in the fed reserve system
manipulates/regulates money supply and control inflation
Why does the fed reserve system require member banks to retain certain types of liquid assets on hand in order to meet depositors’ demand for money? what is this policy called?
Reserve Requirement - so people can withdraw money when they need it
Understand what the open market operation is in relation to the central banking system and how it affects the US econ
open-market - fed govt buy/sell bonds to fund govt activities and control money supply
What is the lending process for banks in the fed reserve? how are rates for banks lending money to eachother set? what is the term for changing the rate?
fed funds market, fed funds rate - affects supply
review the methods/tools that the govt uses to manipulate the econ; discount rate, spending. How dos the govt apply these tools? understand reasoning
discount rate, reserve requirement, fed fund rate, fiscal policy
what are the responsibilities of the treasury dept? how does it administer the govt fiscal policy?
manage fed debt, print money, tweak income and other taxesq
how are social programs/plans financed? What types are used?
contributory program, payroll tax
future possibilities of social security’s financial crisis, what problems can arise?
1950s - 16 contributors for 1 retiree
2020s - 3 contributors for 1 retiree
due to fact that half of workers rely on social security
when medicare benefits increased in 2003 due to bush, how did it affect govt tax/spending policies?
taxes - stayed the same
spending - created a short-term crisis
what aspects of the US interests are encompassed under the term “security”?
Physical, infrastructure, cyber
what international orgs are involved in free trade?
WTO, NAFTA/US’CN’MX trade, IMF
Why is free trade important to the US and others?
its the best route to growth and prosperity
review the Gen Agreement on Trade and Tariffs. What org evolved from it?
World Trade Organization
Major foreign policy is handled by an org/group. What is it? Purpose?
National Security Council, advise president on what to do
Foreign Policy is overseen by this council created in 1947, how does it function?
National Security Council - meeting of the president and the heads of the military branches. helps president make informed foreign/military policy decisions
Purpose of executive agreements, who is involved and how can they be revoked?
the president and a foreign country, can be revoked by the presidential term expiring
What is the purpose of diplomacy in conjunction with national interests? How can it be used?
promote interests by peaceful means, maintain peace