Unit 5 - Public Policy

Question 1

Bipartisanship

Answer 1

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

Question 2

Budget deficit

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