Ayasha.Hussain.ApGovChapter 15 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 issues to be addressed by the government.
Board of Governors
Overseers of the Federal Reserve System. The seven member panel who each serve 14 year overlapping terms, with the Chair appointed by the President, serving a four year term. Also called the Federal Reserve Board
Budget Deficit
The economic condition that occurs when expenditures exceed revenues.
Charter School
a publicly funded independent school established by teachers, parents, or community groups under the terms of a charter with a local or national authority.
Common Core
set of educational standards for teaching and testing English and mathematics between kindergarten and 12th grade.
Department of health and human services
provides essential human services, especially for those who are least able to help themselves and oversees the implementation of numerous health and welfare-related programs
Depression
A mental health disorder characterized by persistently depressed mood or loss of interest in activities, causing significant impairment in daily life.
Discount rate
interest rate charged by the Fed to other banks
Distributive policies
A public policy such as Social Security that provides benefits to all groups in society.
Entitlement programs
Government benefits that certain qualified individuals are entitled to by law, regardless of need
Federal Reserve System
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Fiscal policy
The federal government efforts to keep the economy stable by increasing or decreasing taxes or government spending.
governmental (institutional) agenda
Problems to which public officials feel obliged to devote active and serious attention.
gross domestic product (GDP)
Gross Domestic Product is the dollar value of all final goods and services produced within a country’s border in a given year. It has 4 categories: consumer goods and services, business goods and services, government goods and services, and import goods and services.
Inflation
An increase in the general (average) price level of goods and services in the economy.
Keynesian economics
A form of demand-side economics that encourages government action to increase and decrease demand and output.
Laissez-faire
an economic policy that advocates government staying out of the business sector
means- tested programs
income security program intended to assist those whose incomes fall below a designated level
Medicaid
provides medical and health related services to certain individuals and families with low income
Medicare
a federal program which provides health insurance benefits for people who meet .
Monetary policy
The term “monetary policy” refers to what the Federal Reserve, the nation’s central bank, does to influence the amount of money and credit in the U.S. economy.
National Debt
amount of money owed by the United States to its lenders.
No Child Left Behind Act (NCLB)
No Child Left Behind Act (NCLB) is part of the Individuals with Disabilities Education Act, a re-authorization of the Elementary and Secondary Education Act (ESEA). NCLB sets high standards and accountability for student achievement to make sure that all children are caught up to 21st century learning.
Non-means- tested programs
a program that is not based on income or means of the recipient. For example, social security is a non means based program because it is given to anyone, regardless of their income, once they hit age for it and made the minimum contribution defined by the law
open market operations
The most important policy making body of the Fed and includes the presidents of the regional banks
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 implemantation
process of carrying out public policy through governmental agencies and the courts; can also be done via lawsuits and voluntary compliance
Public Policy
the sum of government activities, whether pursued directly or through agents, as those activities have an influence on the lives of citizens
recession
ordinarily defined as prolonged decrease in economic growth as defined by negative growth in GDP, increased unemployment, and slow business growth over at least 6 months
Redistributive policies
- a Policy that provides to one group of society while taking away benefits for another through policy tools such as tax increases to pay for job training.
Regulatory policies
Market-entry regulations price-setting regulations control regulations Market-preserving regulations social regulations
reserve requriments
increase reserve requirements, raise discount rate for borrowing reserves, sell government securities in the open marketincrease reserve requirements, raise discount rate for borrowing reserves, sell government securities in the open market
Socail Secuity Act
Social Security Act of 1935 created a federal insurance program based on the automatic collection of taxes from employees and employers throughout people’s working careers. They would receive this money in a monthly pension when they reached the age of 65. The unemployed, disabled, and mothers with dependent children would also receive this money.
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
a small printed piece of paper that entitles the holder to a discount or that may be exchanged for goods or services.
