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American Public Policy > American Public Policy > Flashcards

American Public Policy Flashcards

1
Q

What three levels are included in the judicial system?

A

Federal, state, and local.

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2
Q

Which level of courts is comprised of exclusively appointed members?

A

Federal level

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3
Q

Which level of courts is comprised of both appointed and elected judges?

A

State level

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4
Q

Which level of courts is comprised of members that are almost exclusively elected?

A

Local

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5
Q

Name the court levels with their corresponding levels of influence from most to least.

A

Federal- most influential. State- moderately influential. Local- least influential.

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6
Q

Name the three reasons why the judicial branch is important.

P.

A
  1. Common law tradition 2. Administrative appeal. 3. Judicial review
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7
Q

Explain the US common law tradition.

A

Any judicial decision can have the force of policy

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8
Q

Why is judicial review important?

A

Most othe countries do not have judicial review and it makes the other branches responsible to the judicial branch.

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9
Q

What is the practical problem of the judicial branch?

A

The courts can rule, but not enforce decisions. They do not have the power of purse or sword.

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10
Q

What is the inherent political problem of the courts?

A

Judges can be elected or appointed. Appointed judges can be swayed by their own personal agenda. Elected judges can be swayed by the political climate. Both present problems in rulings.

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11
Q

Name the three types of intergovernmental relations.

A

Federal. Unitary. Confederal.

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12
Q

Explain a federal government.

A

Sub national groups have little power. United States is an example?

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13
Q

Explain unitary governments.

A

Mostly homogenous governments and what the government says goes. Lichtenstein, Luxembourg, and Japan are good examples.

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14
Q

Explain confederal governments.

A

Very divided countries are ruled by small units. Switzerland and Canada are good examples.

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15
Q

What are the two levels of governments?

A

Vertical and horizontal.

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16
Q

Explain vertical governments.

A

A higher entity can tell a lower entity what to do. Such as federal to state to local.

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17
Q

Explain a horizontal government.

A

Entities of the same power cooperate for mutual benefit. Examples are South Plains Association of Governments or the Association of Great Lake States.

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18
Q

What are the four types of economic systems?

A

Traditionsl, pure market, pure command, and mixed economies.

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19
Q

Explain traditional economies.

A

A pre- market system that includes feudalism and bartering systems.

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20
Q

Explain pure market economies.

A

A lassiez-faire capitalist system where there is no government intervention and every transaction is private.

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21
Q

Explain a pure command economy.

A

Every good, service, and resource is government regulated and/or dictated.

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22
Q

Explain a mixed economy (mixed capitalist) economy.

A

Every democratic nation uses this style. There is some public support through government and every transaction is somehow influenced by government involvement.

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23
Q

Define economics.

A

The allocation of scarce goods and services.

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24
Q

What is microeconomics?

A

The study of individual economic choices. Individual people and firms are included.

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25
Q

Explain macroeconomics.

A

Individual decisions are aggregated together to form large scale effects.

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26
Q

Who was Adam Smith?

A

He was a moral philosopher who essentially invented the marketplace and coined the invisible hand theory. He was an economic optimist (believed that the world would continually improve) and originated the labor theory of value (the value of a product is determined by the amount of work that is put into an item)

27
Q

Who was Thomas Malthus?

A

An economic pessimist who speculated that poverty was a moral problem after observing the impoverished and underpaid workers of the industrial revolution. He theorized that no government intervention is necessary and death and disease would naturally solve these problems.

28
Q

Who was Karl Marx?

A

Philosopher who speculated that owners exploit the workers in the marketplace. He advocated a workers revolt and the poor should organize and take away government. According to him, workers should solve the problem of surplus wealth taken by owners.

29
Q

Who was John Maynard Keynes?

A

Economic philosopher who theorized natural cycles of positive and negative development in the marketplace. The government should pump in money to stimulate the market when necessary.

30
Q

What is inflation?

A

Price increases without concurrent rise in product value which results in a decrease in purchasing power.

31
Q

What is demand pull inflation?

A

An increase in economic activity and inadequate resources to fill that need.

32
Q

What is cost push inflation?

A

When the cost of critical inputs has increased or there is a decrease in skilled workers. This results in a downturn in economic activity.

33
Q

What is a recession?

A

Lower levels of economic activity due to lower demand or higher unemployment.

34
Q

What is a structural adjustment?

A

A reduction in economic activity because of an imbalance of demand and goods that necessitates a reworking of certain sections of the marketplace.

35
Q

What economic system was prevalent in 17th and 18th century America?

A

Mercantilism - where all power resided with the monarchy and all economic activity and expansion was done for the betterment of the crown.

36
Q

What economic system was prevalent in 19th century America?

A

Lassiez-faire capitalism.

37
Q

What economic system has been prevalent in America during the 20th century?

A

Mixed capitalist.

38
Q

What three things must we do to keep America’s economy strong?

A
  1. Keep the military strong. 2. Keep technology strong. 3. Ensure domestic economic progress.
39
Q

How do we ensure domestic economic progress for America? (4 ways)

A
  1. We must develop infrastructure. 2. We must increase federal state aid. 3. We must encourage development on a state and local level (by promoting secondary/ post secondary education and promoting tools for local development such as TIF and municipal bonds).
40
Q

What is a TIF?

A

Tax increment financing. As developed land becomes more valuable, the tax income from the area will rise and can be used to pay off the bonds used to pay for the development.

41
Q

What are the two basic tools of economic policy?

A

Fiscal policy and monetary policy.

42
Q

Explain fiscal policy.

A

Fiscal policy is using the budget to achieve desired government outcomes. It uses taxes and spending and is based on Keynesian economics. It advises against cutting public spending in an economic downturn.

43
Q

Explain monetary policy.

A

The practice of using the supply and cost of money to achieve desired government outcomes. This policy become more popular after the war.

44
Q

How does the federal reserve regulate money through monetary policy?

A

It dictates how much currency is allowed in circulation and sets the cost of money according to the discount rate.

45
Q

What is supply side economics?

A

Emphasis on the economic supply of goods and services.

46
Q

How should supply side economics be utilized? (In three ways)

A
  1. Reduce regulations. 2. Reduce taxes. 3 Have government streamline development (set it up and make it look appealing).
47
Q

What is perfect information?

A

I know what the the outcome will be based on options and preferences of both parties.

48
Q

What is imperfect information?

A

I know my preferences. I know the options. I don’t know the other party’s preferences.

49
Q

What is incomplete information?

A

Preferences and options of both parties are unknown or intentionally withheld.

50
Q

What is signaling?

A

Broadcasting a limited amount of attractive information.

51
Q

Give the timeline for the modern day American income tax.

A
  1. Wilson-Gorman Tariff act was signed into law. 2. Supreme Court ruled it unconstitutional in Pollock v. Farmers Loan & Trust. 3. Congress passed the 16th amendment which made income tax constitutional.
52
Q

How does the federal government collect its largest income?

A

Taxation on income, mostly through the payroll deduction tax.

53
Q

What method of taxation do most modern democracies use?

A

Taxation on consumption, including value added taxes.

54
Q

There are three kinds of taxes. What are they?

A

Income, consumption (sales and excise), and property (luxury).

55
Q

What is sales tax?

A

Taxes added after purchase and a state’s most important source of revenue.

56
Q

What is excise tax?

A

Taxes that are added before purchase and reflected in price.

57
Q

What are sin taxes?

A

Sales taxes that are higher on items viewed as socially or morally undesirable, such as cigarettes, alcohol, etc.

58
Q

What are luxury taxes?

A

Taxes on items the middle class typically cannot afford, but the upper class can, and therefore can afford to pay higher taxes on as well. These include jewellery, yachts, hotels, etc.

59
Q

What are property taxes?

A

Taxes on the value of a home or estate. These are the most important source of income for local governments and public education.

60
Q

What are the three types of taxation rates?

A

Progressive, proportional, and regressive.

61
Q

What is a progressive tax rate?

A

The richer pay higher tax rates than the middle class or poor. Income taxes are a good example of this.

62
Q

What are proportional tax rates?

A

Tax rates are the same across all incomes. A flat tax is a good example of this.

63
Q

What is a regressive tax rate?

A

Taxation where the poor and middle class pay a higher tax rate than the middle or upper class. Sales taxes are a good example of this.

64
Q

What are the three critical events of the 20th century?

A

WWI, the Great Depression, and WWII.

American Public Policy (1 decks)

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