Libs & Cons Flashcards

1
Q

What is the
basic
characteristic of
federalism?

A
It divides power
between a National
Government and
State
governments.
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2
Q

What is the
approximate
current U.S.
National Debt?

A

$32 Trillion

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3
Q

What are some
examples of
Entitlements?

A
Social Security,
Medicare, Food
Stamps and
unemployment
compensation
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4
Q

Describe a Swing State?

A

A state that lacks a consistent pattern of choosing a particular party’s presidential candidate because the two major parties have similar levels of support.

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5
Q

When the Federal Government spends more than it takes in

A

Deficit financing.

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6
Q

As the head of the Executive Branch, the President has the responsibility _______.

A

To prepare the Federal Budget

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7
Q

What is Adjusted Gross Income (AGI)?

A

The amount of income on which a person is taxed after deductions taken for certain expenses such as charitable donations.

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8
Q

What country loans the US the most money?

A

China

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9
Q

The US has what type of tax system?

A

Progressive tax system

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10
Q

Basic difference between Liberal and Conservatives?

A

Conservatives prefer a less active government, while liberals prefer a more active government.

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11
Q

Red states represent…

A

Conservative/Republican states

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12
Q

Blue states represent…

A

Liberal/Democratic states

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13
Q

When does the government’s Fiscal Year begin?

A

October 1st

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14
Q

Who does Medicare provide services to?

A

The elderly.

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15
Q

Who does Medicaid provide service to?

A

Low income/Disabled

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16
Q

What is Intrastate Commerce?

A

Business or economic activity that occurs within the borders of a single state.

17
Q

What is Interstate Commerce?

A

Business or economic activity that occurs between multiple states.

18
Q

Name for money/spending the government cannot change

A

Mandatory spending

19
Q

Joe Biden & Barack Obama on the political spectrum.

A

Liberal

20
Q

Donald Trump on the political spectrum

A

Conservative

21
Q

The average American (Homer Simpson).

A

Moderate

22
Q

Tim McVeigh on the political spectrum

A

Reactionary

23
Q

Lenin on the political spectrum.

A

Radical

24
Q

Amendment that established US income tax

A

16th

25
Q

Liberal or Conservative- Strong belief in group responsibility, personal liberties, non-traditional values, and a more activist government in economic and social issues

A

Liberal

26
Q

Liberal or Conservative- Strong belief in personal responsibility, traditional values, Laissez Faire, property rights, and a more limited government in economic and social issues

A

Conservative

27
Q

An economic system in which private individuals (not government) own most if not all of the resources and decide what will be produced, how it will be produced, and for whom it will be produced.

A

Free Market

28
Q

An economic system in which the government owns and controls many, or all of the resources and decides what will be produced through central planning.

A

Command Economy

29
Q

An economy that has features of both market and command.

A

Mixed Economy

30
Q

Type of economy in the US

A

Mixed Economy

31
Q

Spending authorized by Congress yearly. It can be added to or subtracted from.

A

Discretionary Spending

32
Q

Which political ideology wants a complete & new change from the Status Quo by any means necessary and will work outside of the system.

A

Radicals

33
Q

Which political ideology wants things to go backward from the Status Quo by any means necessary and will work outside of the system.

A

Reactionaries

34
Q

Difference between Radicals and Reactionaries.

A

Radicals and Reactionaries are often similar in WHAT they do but are different in WHY they do it.

35
Q

Republicans on the political spectrum

A

Conservative

36
Q

Democrats on the political spectrum

A

Liberal

37
Q

Who determines U.S. monetary policy?

A

The Federal Reserve