AP Gov Chap. 15 Esmeralda Ayala Flashcards
Affordable Care Act (ACT)
The Affordable Care Act actually refers to two separate pieces of legislation — the Patient Protection and Affordable Care Act (P.L. 111-148) and the Health Care and Education Reconciliation Act of 2010 (P.L. 111-152) — that, together expand Medicaid coverage to millions of low-income Americans and makes numerous improvements to both Medicaid and the Children’s Health Insurance Program
agenda setting
The process of forming the list of matters that policymakers intend to address
inflation
A rise in the general price levels of an economy
laissez-faire
A french term meaning “to allow to do, to leave alone.” It is hands-off governmental policy that is based on the belief that government involvement in the economy is wrong
Board of Governors
In the Federal Reserve System, a seven-member board that sets members banks’ reserve requirements, controls the discount rate, and makes other economic decisions
budget deficit
The amount by which federal expenditure exceeds federal revenue
charter school
self-governing public schools that have signed an agreement with their state government to improve students’ education; have their own curricula and teaching practices
Common Core
Goals are moving national to priorities toward the public, and making government institutes
Department of Health and Human Services
Originally the Department of Health, Education, and Welfare
Supervises programs to protect health and provide social service
(1979)
depression
a period of high unemployment and business failures; a severe, long-lasting downturn in a business cycle
discount rate
charge on banks to borrow gov money (currently at 0%); mode of Fed Reserve monetary policy
distributive policies
A public policy such as Social Security that provides benefits to all groups in society
entitlement programs
gov’t benefits that certain qualified individuals are entitled to by law, regardless of need
Federal Reserve System
consisting of twelve Federal Reserve districts, the Fed facilitates exchanges of cash, checks and credit; it regulates member banks; and it uses monetary policies to fight inflation and deflation
fiscal policy
government policy that attempts to manage the economy by controlling taxing and spending
governmental (institutional) agenda
Issues that people believe require governmental action
gross domestic product (GDP)
the total output of all economic activity in the nation, including goods and services
Keynesian economics
economic theory based on the principles of John Maynard Keynes stating that government spending should increase during business slumps and be curbed during booms
means-tested programs
gov’t programs available only to individuals who qualify for them based on specific needs
Medicaid
health care for needy, low-income families, pregnant women, and children; covers hospitalization, physician services, drugs, and long-term nursing care
Medicare
old people (65+ with Social Security) social insurance trust; workers pay into their own retirement fund on payroll tax; covers of hospitalization and nursing care with optional extension of coverage for physician services, X-rays etc
monetary policy
form of gov regulation in which the nation’s money supply and interest rates are controlled by the Fed Reserve
national debt
the total deficit from the first presidency down to the present
No Child Left Behind Act (NCLB)
passed in 2003; holds states, schools, and school districts accountable for their standardized tests scores; labels schools unable to meet desired average as “failing” and offers such schools more resources; unfunded mandate, leads to cheating and “teaching the test”
