APGOVCh.15.Arkane.Riahi Flashcards
Affordable Care Act (ACA)
An expansion of medicaid, most of employers must provide health insurance, have insurance or face surtax, prevents rejection based on pre-existing condition. Also referred to as “Obamacare”, signed into law in 2010.
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 long and severe recession in an economy or market.
Discount Rate
The rate of interest at which member banks can borrow money from their regional Federal Reserve Bank.
Distributive Policies
Distributive Policies Aimed at ensuring proper distribution of opportunities, goods, services among different sections of society. Meant for specific groups / sections of society. Redistributive Policies Concerned with changing the existing distribution or allocation of resources or benefits.
Entitlement Programs
a government program that guarantees certain benefits to a particular group or segment of the population.
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
federal gov, specifically Congressional, policies on taxes, spending, and debt management which promote the nation’s macroeconomic goals
governmental (institutional) agenda
An intentional course of action or inaction followed by government in dealing with some problems ormatter of concern. A discussion agenda; it consists of all public issues that are viewed as requiring governmental attention.
gross domestic product (GDP)
Gross Domestic Product (GDP) is a monetary measure of the market value of all the final goods and services produced in a period of time, often annually or quarterly.
inflation
A rise in the general price levels of an economy.
Keynesian economics
goal of the gov is to moderate/lessen boom and bust; deficit spending enhances demand and maintains high levels of spending and production; opposite of monetarism
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.
means-tested programs
A government program financed by general income taxes that provides benefits to poor citizens without requiring contributions from them. means test. An income qualification program that determines whether one is eligible for benefits under government programs reserved for lower-income groups.
Medicaid
the United States health program for certain people and families with low incomes and resources. Jointly funded by the state and federal governments, and is managed by the states. Medicaid is the largest source of funding for medical and health-related services for people with limited income in the United States.
Medicare
a national social insurance program, administered by the U.S. federal government since 1965, that guarantees access to health insurance for Americans ages 65 and older and younger people with disabilities.
monetary policy
A form of government regulation in which the nation’s money supply and interest rates are controlled.
national debt
the total deficit from the first presidency down to the present
No Child Left Behind Act (NCLB)
The No Child Left Behind Act authorizes several federal education programs that are administered by the states. The law is a reauthorization of the Elementary and Secondary Education Act. Under the 2002 law, states are required to test students in reading and math in grades 3–8 and once in high school.
non-means-tested programs
Government programs available only to individuals below a poverty line. Examples of Non-means tests. social security, medicare, veterans disability benefits, unemployment benefits. Examples of Means-Tested programs. medicaid, supplemental security income, temporary assistance for needy families, food stamps.
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, people with requisite authority
policy evaluation
process of determining whether a course of action is achieving its intended goals; determines fairness and efficiency of program
policy formulation
formal proposals are developed and adopted to deal with the problems on the official policy agenda
policy implementation
process of carrying out public policy through governmental agencies and the courts; can also be done via lawsuits and voluntary compliance
public policy
the course of action the government takes in response to an issue or problem
recession
short-term drop in the economy caused by investment sags, failed production, and unemployment
redistributive policies
A type of policy that takes benefits (usually through taxes) from one group of Americans and gives them to another (usually through spending).
regulatory policies
A type of policy that takes benefits (usually through taxes) from one group of Americans and gives them to another (usually through spending).
Reserve requirements
Government requirements that a portion of member banks’ deposits must be retained to back loans made.
Social Security Act
he Social Security Act established a system of old-age benefits for workers, benefits for victims of industrial accidents, unemployment insurance, aid for dependent mothers and children, the blind, and the physically handicapped.
Systemic agenda
systemic agenda: “all issues that are commonly perceived by members of the political community as meriting public attention and as involving matters within the legitimate jurisdiction of existing governmental authority”.
vouchers
money that the government provides to parents to pay their children’s tuition in a public or private school of their choice.
