APGovCh.15.Alyssa.Lujano Flashcards
Affordable Care Act (ACA)
a law consisting of two pieces of legislation that are collectively referred to as “Healthcare Reform” or “Obamacare”.
Agenda Setting
The process of forming the list of matters that policymakers intend to address.
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 severe and long lasting decline in the economy that occurs as investment sags, production falls off, and unemployment increases.
Discount Rate
The rate of interest at which member banks can borrow money from their regional Federal Reserve Bank.
Distributive Policies
Public policies that provide benefits to individuals, groups, communities, or corporations.
Entitlement Programs
Government benefits that all citizens meeting eligibility criteria- such as age, income level, or unemployment- are legally “entitled” to receive.
Federal Reserve System
Organization tasked with responsibilities such as; managing the money supply, stabilizing prices, moderating interest rates, and reducing unemployment.
Fiscal Policy
The policies of taxation &spending that comprise the nation’s economic policy.
Governmental agenda
Problems to which public officials feel obliged to devote active and serious attention.
Gross domestic product (GDP)
The total market value of all goods and services produced in a country during a year.
Inflation
A rise in the general price levels of goods and services within an economy.
Keynesian economics
An economic approach first championed by economist John Maynard Keynes in the 1930s, who maintained that spending by government can stimulate economic growth much faster than a free market could on its own.
Laissez-faire
Economic philosophy that endorses a very limited role for government in the economy.
Means-tested programs
income security program intended to assist those whose incomes fall below a designated level (poverty line).
Medicaid
A government program that subsidizes medical care for the poor.
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
A form of government regulation in which the nation’s money supply and interest rates are controlled.
National Debt
Amount of money owed by the government.
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”.
non-means-tested programs
benefits provided regardless of income or means of recipients (Social Security).
Open market operations
The buying and selling of government securities by the Federal Reserve Bank in the securities market.
Policy adoption
The approval of a policy by legislation.
Policy evaluation
Determines if a policy is achieving its goals.
Policy Formulation
The crafting of a policy to resolve public problems.
Policy implementation
Carrying out a policy through government agencies and courts.
Public Policy
the course of action the government takes in response to an issue or problem.
Recession
A short-term decline in the economy that occurs as investment sags, production falls off, and unemployment increases.
Redistributive Policies
Public Policies that transfer resources from one group to assist another group.
Regulatory Policies
Public policies that limit the activities of individuals and corporations or prohibit certain types of unacceptable behavior.
Reserve requirements
Government requirements that a portion of member banks’ deposits must be retained to back loans made.
Social Security Act
passed in 1935; most important part of the New Deal; provides public assistance and guaranteed retirement payments for the needy, old, and blind.
Systemic agenda
A set of issues to be discussed or given attention; it consists of all public issues viewed as requiring governmental attention.
Vouchers
Certificates issued by the government that may be applied toward the cost of attending private or other public schools.
