Unit 8

Question 1

fiscal policy

Answer 1

federal government policies on taxes, spending, and debt management; policy intended to promote the nation’s macro-economic goals, particularly with respect to employment, price stability, and growth

Question 2

monetary policy

Answer 2

a from of government regulation in which the nation’s money supply ad interest rates are controlled

Question 3

means testedf

Answer 3

income security program intended to assist those whose incomes fall below a designated level; welfare

Question 4

non-means tested

Answer 4

programs where benefits are provided irrespective of the income or means of recipients; social programs that are NOT welfare

Question 5

discretionary spending

Answer 5

spending category where government can spend through an appropriations bill

Question 6

FED

Answer 6

regulates price and supply of money

Question 7

entitlement programs

Answer 7

income security program to which all those meeting eligibility criteria are entitled

Question 8

medicare

Answer 8

the federal program established in the Lyndon B. Johnson administration that provides medical care to elderly Social Security recipeints

Question 9

medcaid

Answer 9

an expansion of medicare, this program subsidizes medical care for the poor

Question 10

Social security

Answer 10

1935 law that established old-age insurance and assistance for the needy, children, and others, and unemployment insurance

Question 11

budget deficit

Answer 11

money that government spends over its fiscal intake

Question 12

national debt

Answer 12

accumulation of past deficits