chapter.15.surysadai Flashcards
affordable care act
it represents the U.S. healthcare system’s most significant regulatory overhaul and expansion of coverage since the passage of Medicare and Medicaid in 1965
agenda setting
The process of forming the list of matters that policymakers intend to address
board of governors
. The Board consists of seven members who are appointed by the president of the United States and confirmed by the Senate.
budget deficit
Budget Deficit. when federal expenditures exceed federal revenues for a one year period.
charter school
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
exams students take every years
department of health and human services
s 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 period of high unemployment and business failures; a severe, long-lasting downturn in a business cycle
discount rate
Interest levels determined by the Federal Reserve that affects the consumer’s ability to borrow money. Fluctuating the rates is a tool to combat inflation.
distributive policies
A policy that results in the government giving benefits to people, farmers, and businesses. ex) subsidies, r & d funds, government aid
entitlement programs
Benefits legally bound to individuals by the federal government
ex) social security
federal reserve systems
The federal body that regulates the money supply, the limitations on money reserves of banks, and the rate at which banks can borrow money.
fiscal policy
Policy that determines how the economy is managed based on government spending and borrowing and the amount of money from taxes
governmental (institutional) agenda
A political agenda is a set of issues and policies laid out by ideological or political groups; as well as topics under discussion by an governmental executive, or a cabinet in government that tries to influence current and near-future political news and debate.
gross domestic product
The total of all goods and services produced in a year.
inflation
rise in the general price level (and decrease in dollar value) owing to an increase in the volume of money and credit in relation to available goods
Keynesian economics
theory emphasizing that government spending and deficits can help the economy weather its normal ups and downs. Proponents of this theory advocate using the power of the government to stimulate the economy when it is lagging.
laisser-faire
Money given to the government via purchased goods
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
medicaid
A program funded by federal and local governments that covers hospital and nursing home costs of low-income people.
medicare
Program that covers hospital and medical costs of senior citizens and disabled people
monetary policy
The policies of the Federal Reserve Board that aim to create and maintain a healthy economy
national debt
the total amount of money the federal government has borrowed to finance deficit spending over the years
no child left behind act
which passed Congress with overwhelming bipartisan support in 2001 and was signed into law by President George W. Bush on Jan. 8, 2002, is the name for the most recent update to the Elementary and Secondary Education Act of 1965
non-means-tested programs
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. Means-Test. Government programs available only to individuals below a poverty line. Examples of Non-means tests.
open market operations
An open market operation is an activity by a central bank to give liquidity in its currency to a bank or a group of banks. Wikipedia
policy adoption
Policy adoption is the third phase of the policy process in which policies are adopted by government bodies for future implementation.
policy evaluation
Policy evaluation applies evaluation principles and methods to examine the content, implementation or impact of a policy
policy formulation
Definition of Policy Formulation. Let us again start with the consideration of a definition: Policy formulation is the development of effective and acceptable courses of action for addressing what has been placed on the policy agenda.
policy implemenation
As a general concept policy implementation can be defined as the third stage of policy cycle its means the stage of the policy process immediately after the passage of a law, or the action that will be taken to put the law into effect or that the problem will be solved.
public policy
the principle that injury to the public good is a basis for denying the legality of a contract or other transaction.
recession
A slowdown in economic activity, officially defined as a decline that persists for two quarters (six months)
redistributive policies
A policy requirement whereby the government reallocates the wealth from one group in society to another group. It involves the direct provision of benefits to citizens through social programs such as welfare.
regulatory policies
In addition to fiscal and monetary policies, a government affects the economy through regulatory policy, which aims to limit what can be done in the marketplace.
reserve requirements
The reserve requirement is a central bank regulation employed by most, but not all, of the world’s central banks, that sets the minimum amount of reserves that must be held by a commercial bank.
social security act
the 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.
systematic 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 government provides to parents to pay their children’s tuition in a public or private school of their choice.
