Vincent A. Ch. 15

Question 1

Affordable Care Act (ACA)

Answer 1

Nicknamed Obamacare, is a United States federal statute enacted by the 111th United States Congress and signed into law by President Barack Obama on March 23, 2010

Question 2

Agenda-setting

Answer 2

If a news item is covered frequently and prominently, the audience will regard the issue as more important

Question 3

Board of Governors

Answer 3

A federal government agency that is the Fed’s centralized component. The Board consists of seven members who are appointed by the president of the United States and confirmed by the Senate

Question 4

Budget deficit

Answer 4

When expenses exceed revenue, and it is an indicator of financial health

Question 5

Charter school

Answer 5

A publicly funded independent school established by teachers, parents, or community groups under the terms of a charter with a local or national authority

Question 6

Common Core

Answer 6

A set of high-quality academic standards in mathematics and English language arts/literacy (ELA). These learning goals outline what a student should know and be able to do at the end of each grade

Question 7

Department of Health and Human Services

Answer 7

Aims to “protect the health of all Americans and provide essential human services, especially for those who are least able to help themselves.”

Question 8

Depression

Answer 8

A long and severe recession in an economy or market

Question 9

Discount Rate

Answer 9

The minimum interest rate set by the Federal Reserve for lending to other banks

Question 10

Distributive Policies

Answer 10

Aimed at ensuring proper distribution of opportunities, goods, services among different sections of society

Question 11

Entitlement programs

Answer 11

A government program that guarantees certain benefits to a particular group or segment of the population

Question 12

Federal Reserve System

Answer 12

The central bank of the United States. It was created by the Congress to provide the nation with a safer, more flexible, and more stable monetary and financial system

Question 13

Fiscal policy

Answer 13

The use of government revenue collection and expenditure to influence the economy. When the government changes the levels of taxation and government spending, it influences aggregate demand and the level of economic activity

Question 14

Governmental (Institutional) Agenda

Answer 14

A discussion agenda; it consists of all public issues that are viewed as requiring governmental attention.

Question 15

Gross domestic product

Answer 15

The total value of goods produced and services provided in a country during one year

Question 16

Inflation

Answer 16

A general increase in prices and fall in the purchasing value of money

Question 17

Keynesian economics

Answer 17

Macroeconomic theories, economic output is strongly influenced by aggregate demand

Question 18

Laissez faire

Answer 18

Abstention by governments from interfering in the workings of the free market

Question 19

Means-tested programs

Answer 19

Food stamps, public housing, Medicaid, and Temporary Assistance for Needy Families are means-tested aid programs that provide benefits only to poor and lower-income persons

Question 20

Medicaid

Answer 20

A health care program that assists low-income families or individuals in paying for doctor visits, hospital stays, long-term medical, custodial care costs and more

Question 21

Monetary policy

Answer 21

The macroeconomic policy laid down by the central bank. It involves management of money supply and interest rate and is the demand side economic policy used by the government of a country to achieve macroeconomic objectives like inflation, consumption, growth and liquidity

Question 22

National Debt

Answer 22

The total amount of money that a country’s government has borrowed, by various means

Question 23

No Child Left Behind Act

Answer 23

States are required to test students in reading and math in grades 3–8 and once in high school

Question 24

non-means-tested programs

Answer 24

Government programs available only to individuals below a poverty line. Examples of Non-means tests. social security, medicare, veterans disability benefits, unemployment benefits

Question 25

Open market operation

Answer 25

An activity by a central bank to give liquidity in its currency to a bank or a group of banks

Question 26

Policy Adoption

Answer 26

The third phase of the policy process in which policies are adopted by government bodies for future implementation

Question 27

Policy evaluation

Answer 27

Evaluation principles and methods to examine the content, implementation or impact of a policy

Question 28

Policy Formulation

Answer 28

The development of effective and acceptable courses of action for addressing what has been placed on the policy agenda

Question 29

Policy implementation

Answer 29

The third stage of policy cycle its means the stage of the policy process immediately after the passage of a law, or the action that will be taken to put the law into effect or that the problem will be solved

Question 30

Public policy

Answer 30

The principles, often unwritten, on which social laws are based.

Question 31

Recession

Answer 31

A period of temporary economic decline during which trade and industrial activity are reduced, generally identified by a fall in GDP in two successive quarters

Question 32

Redistributive policy

Answer 32

A policy requirement whereby the government reallocates the wealth from one group in society to another group. It involves the direct provision of benefits to citizens through social programs such as welfare

Question 33

Regulatory Policy

Answer 33

Government aims to limit what can be done in the marketplace. Most governments have some regulations covering a variety of areas, including: Banking, insurance, and other financial businesses

Question 34

Social Security Act

Answer 34

A system of old-age benefits for workers, benefits for victims of industrial accidents, unemployment insurance, aid for dependent mothers and children, the blind, and the physically handicapped

Question 35

Systemic agenda

Answer 35

“All issues that are commonly perceived by members of the political community as meriting public attention and as involving matters within the legitimate jurisdiction of existing governmental authority”

Question 36

Vouchers

Answer 36

A small printed piece of paper that entitles the holder to a discount or that may be exchanged for goods or services