Chapter 15 & 16

Question 1

Domestic policy

Answer 1

Domestic policy refers to a government’s plans, actions, and initiatives that primarily focus on issues within its own country, such as healthcare, education, economic stability, and social welfare.

Question 2

Single payer system

Answer 2

A single-payer healthcare system is a healthcare system in which the government, rather than private insurers, pays for all healthcare costs. It’s characterized by a single entity, typically the government, that collects all healthcare fees and pays out all healthcare costs.

Question 3

Affordable care act

Answer 3

The Affordable Care Act (ACA), also known as Obamacare, is a law in the United States aimed at making healthcare more accessible and affordable for Americans. It includes provisions such as subsidies to help people afford insurance, protections for those with pre-existing conditions, and the expansion of Medicaid.

Question 4

Medicare

Answer 4

Medicare is a government-run health insurance program in the United States. It primarily provides coverage for people who are 65 years old or older, as well as some younger people with disabilities. It helps cover the costs of healthcare services like doctor visits, hospital stays, and prescription drugs.

Question 5

Medicaid

Answer 5

Medicaid is a government program in the United States that provides health coverage to low-income individuals and families. It helps pay for medical services such as doctor visits, hospital stays, prescription drugs, and other healthcare costs. Eligibility for Medicaid varies by state and is based on income and other factors.

Question 6

Life expectancy

Answer 6

Life expectancy is the average number of years a person can expect to live, based on statistical data. It represents the typical lifespan of individuals in a specific population or demographic group.

Question 7

Environmental protection agency (EPA)

Answer 7

The Environmental Protection Agency (EPA) is a government agency in the United States responsible for protecting human health and the environment. It sets and enforces regulations to address pollution, hazardous waste disposal, air and water quality, and other environmental concerns. The EPA conducts research, monitors environmental conditions, and works with businesses and communities to promote sustainable practices.

Question 8

Endangered species act

Answer 8

The Endangered Species Act (ESA) is a U.S. law that safeguards endangered and threatened species by preventing their harm or extinction and protecting their habitats.

Question 9

Spotted owl

Question 10

Choker

Question 11

Sustainability

Answer 11

Sustainability means using resources wisely so that future generations can also meet their needs.

Question 12

Alternative source of energy

Answer 12

Wind energy
Solar energy
Hydro energy

Question 13

Poverty & welfare

Answer 13

5 years total, 2 years consecutive

Poverty refers to a condition in which people lack the resources to meet their basic needs, such as food, shelter, and clothing. Welfare refers to government programs and services designed to assist individuals and families experiencing poverty by providing financial support, healthcare, education, and other forms of assistance.

Question 14

Poverty gap

Answer 14

The poverty gap is the difference between how much money people living in poverty have and how much they need to meet basic needs.

Question 15

Homelessness

Answer 15

Homelessness is the condition of not having a stable, safe, and permanent place to live.

Question 16

Immigration

Answer 16

Immigration refers to the movement of people from one country to another with the intention of settling there permanently or temporarily.

Question 17

Gentrification

Answer 17

Gentrification is the process of wealthier people moving into a lower-income neighborhood, often resulting in increased property values, changes in the local culture, and the displacement of long-time residents.

Question 18

Glass - steagall act

Answer 18

The Glass-Steagall Act was a law passed in the United States in 1933 that separated commercial banking from investment banking activities to prevent conflicts of interest and reduce the risk of financial crises.

Question 19

Great Recession

Answer 19

The Great Recession was a severe economic downturn that began in late 2007 and lasted until 2009. It was characterized by a sharp decline in economic activity, widespread job losses, and financial market turmoil, stemming from the collapse of the housing market and subsequent financial crisis.

Question 20

Unemployment rate

Answer 20

3.7%

Question 21

Worst enemy of the market

Answer 21

Fear

Question 22

Last 3 recessions

Answer 22

Covid, Great Recession, 911

Question 23

Inflation

Answer 23

Inflation is the rate at which the general level of prices for goods and services is rising, resulting in a decrease in purchasing power over time.

Question 24

The cycle

Answer 24

Prosperity, recession, depression, growth

Question 25

Laissez-faire economics

Answer 25

Laissez-faire economics means “hands-off” or minimal government intervention in the economy, letting markets operate freely.

Question 26

Keynesian economic

Answer 26

Keynesian economics is an economic theory that suggests government intervention in the economy, particularly through fiscal policy (spending and taxation), can help stabilize economic fluctuations and promote full employment and economic growth.

Question 27

Supply - side economics

Answer 27

Supply-side economics is an economic theory that emphasizes reducing taxes and regulations on businesses and individuals to stimulate economic growth. It focuses on increasing the production of goods and services, believing that this will lead to job creation and overall prosperity.

Question 28

Public debt

Answer 28

Public debt, also known as government debt, refers to the total amount of money owed by a government to creditors. It includes money borrowed through issuing bonds, treasury bills, and other securities.

34 trillion

Question 29

GDP

Answer 29

GDP is a measure of a country’s economic output, representing the total value of goods and services produced within its borders.

Question 30

Taxes

Question 31

Who is Ben bernanke

Answer 31

Ben Bernanke is an American economist who served as the Chairman of the Federal Reserve, the central banking system of the United States, from 2006 to 2014. He played a crucial role in responding to the 2008 financial crisis and implementing monetary policies to stabilize the economy.