Public Policy Vocab

Question 1

Bipartisanship

Answer 1

support from both parties for policy, e.g., a bipartisan foreign policy.

Question 2

Budget Defecit

Answer 2

results when federal expenditures exceed federal revenues for a one year period.

Question 3

Deficit Spending

Answer 3

the federal government’s practice of spending more money than it takes in as revenues.

Question 4

Deregulation

Answer 4

elimination of federal regulations on private companies.

Question 5

Entitlements

Answer 5

Federal benefit payments to which recipients have a legal right, e.g., Social Security. Also known as uncontrollables

Question 6

Fiscal policy

Answer 6

Taxing and spending policies

Question 7

Means testing

Answer 7

requiring that those who receive federal benefits show a need for them.

Question 8

Monetary policy

Answer 8

Federal Reserve Board’s regulation of the supply of money in circulation.

Question 9

National debt

Answer 9

total debt owed by the federal government due to past borrowing. Also known as the public debt

Question 10

Subsidy

Answer 10

federal financial aid to individuals, e.g., welfare, food stamps, agricultural subsidies