public policy quiz Flashcards
linkage institutes
elections
political parties
interest groups
media
policy making process
problem identification
agenda setting
policy formulation
policy adoption
policy implementation
evaluation policy
widely distributed costs
income tax
social security tax
widely distributed benefits
social security benefits
national defense
narrowly concentrated costs
factory air emission standards
narrowly concentrated benefits
farm subsidies
cost
any burden that people must or expect to bear (money or not)
benefit
any satisfaction that some people must or expect to receive (money or not)
four types of politics
majoritarian
interest group
client
entrepreneurial
majoritarian politics
distributed benefits
distributed costs
interest groups politics
narrowly concentrated benefits
narrowly concentrated costs
client politics
narrowly concentrated benefits
distributed costs
entrepreneurial politics
distributed benefits
narrowly concentrated costs
types of public policy
domestic and foreign
capitalism
an economic system in which individuals and corporations own the principal means of production and seek profits (NOT the government)
mixed economy
an economic system in which the government is deeply invovled with economy decisions
(regulations, consumer, subsidies, taxer, employer and borrower)
republicans
worry about inflation
democrats
stress importance of unemployment
two major worries
unemployment
inflation
expenditures of the government
mainly go to major entitlements programs
largest source of revenue
individual income tax
fiscal policy
change taxes, government spending, transfer payments
politician appeals to voters
keep spending down
cut deficits
support the programs
categorical grants
grants that have a specific purpose
project grants (merit)
formula grants (formula)
block grants
grants which can be used for a variety of purposed within a broad category
mandates
a requirement placed on a state or local government with no funds
monetary policy
change discount rate, federal funds rate, reserve requirement, buy and sell bonds
liberal economic ideologies
increase government regulations on marketplace
increase government spending (keynesian)
higher taxes for rich
favor social programs
conservative economic ideologies
fewer regulations on marketplace
lower taxes for middle class and higher income
decrease government spending
laissez faire
supply side economics (reaganomics)
libertarian economic ideologies
no regulations to protect property rights
no taxes
limited government role
limited government spending
four economic theories
monetarism
keynesian/demand side
classical/laissez faire
supply side
reaganomics
combination of monetarism and supply side tax cuts and domestic budget cutting
reduce taxations and government regulation
protectionism
the economic policy of shielding an economy from imports
antitrust policies
prevent monopolies
Congress has taken steps to regulate accounting industry practices
SEC regulates stock fraud
Taft Hartley act 1947
guarantee to unions the right of collective bargaining
prohibited various unfair practices by union by allowing state “right to work” laws that forbid union requirements
office of management and budget
president is more involved in budget
OMB
ways and means committee
reviews taxes and revenues
appropriations committee
reviews spending
tax loopholes
tax break or benefit for a few people
not much money is lost
tax expenditures
special exemptions
exclusions or deductions
lots of money lost
mandatory spending
2/3 of federal spending
interest on the national debt
entitlement programs
entitlement programs
social security
medicaid
medicare
TANF
SSI
SNAP
