Chapter 15 Flashcards
Affordable Care Act
signed by president Obama, allows health care to those who can’t afford it
Agenda setting
theory describes the “ability [of the news media] to influence the importance placed on the topics of the public agenda
Board of Governors
a federal government agency that is the Fed’s centralized component.
Budget deficit
the excess of federal expenditures over federal revenues.
Charter school
Receives governmental funding but operates like a private school
Common Core
A new set of academic standards set in 2010
Department of Health and Human Services
a cabinet-level department of the U.S. federal government with the goal of protecting the health of all Americans and providing essential human services.
Depression
a sustained, long-term downturn in economic activity
Discount rate
the minimum interest rate set by the Federal Reserve for lending to other banks.
Distributive policies
Meant for specific groups / sections of society. Aimed at ensuring proper distribution of opportunities, goods, services among different sections of society
Entitlement programs
a government program that guarantees certain benefits to a particular group or segment of the population.
Federal Reserve System
the central banking system of the United States of America.
Fiscal policy
the use of government revenue collection and expenditure to influence the economy
Governmental agenda
a list of subjects or problems to which government officials as well as individuals outside the government are paying serious attention
Gross domestic product
the total value of goods produced and services provided in a country during one year.
Inflation
a general increase in prices and fall in the purchasing value of money.
Keynesian economics
various macroeconomic theories about how in the short run – and especially during recessions – economic output is strongly influenced by aggregate demand
Laissez-faire
abstention by governments from interfering in the workings of the free market.
Means-tested programs
provide benefits only to poor and lower-income persons.
Medicaid
provide free or low-cost health coverage to millions of Americans
Medicare
a single-payer national health insurance program in the United States
Monetary Policy
the process by which the monetary authority of a country controls either the cost of very short-term borrowing or the monetary base,
National Debt
debt, or unpaid borrowed funds, carried by the federal government of the United States
No Child Left Behind Act
authorizes several federal education programs that are administered by the states.
Non-means-tested-programs
available only to individuals below a poverty line.
Open Market Operations
an activity by a central bank to give liquidity in its currency to a bank or a group of banks.
Policy adoption
the third phase of the policy process in which policies are adopted by government bodies for future implementation.
Policy evaluation
applies evaluation principles and methods to examine the content, implementation or impact of a policy
Policy formulation
the development of effective and acceptable courses of action for addressing what has been placed on the policy agenda.
Policy implementation
the third stage of policy cycle its means the stage of the policy process immediately after the passage of a law
Public policy
the principles, often unwritten, on which social laws are based.
Recession
a general slowdown in economic activity.
Redistributive policies
the transfer of income and of wealth (including physical property) from some individuals to others by means of a social mechanism
Regulatory policies
aims to limit what can be done in the marketplace.
Reserve requirements
a central bank regulation employed by most, but not all, of the world’s central banks
Social Security Act
established a system of old-age benefits for workers
Systemic agenda
all issues that are commonly perceived by members of the political community
Vouchers
money that the government provides to parents to pay their children’s tuition in a public or private school
