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23 Cards in this Set
- Front
- Back
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What are the three purposes of policy making?
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-solving a social problem
-countering threats -pursuing an objective |
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the slow, step-by-step approach to making policy
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incrementalism
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What was Bill Clinton's campaign slogan?
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It's the economy, stupid!
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belief that the government should never become involved in economic issues
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laissez-faire
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What are two ways that Keynesian politics can be accomplished?
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fiscal policy
monetary policy |
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How can the Fed increase the amount of money in circulation?
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Lower interest rates
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What are three ways the Federal Reserve Board can implement monetary policy?
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manipulate:
-reserve requirement -discount rate -open market operations |
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the amount of money banks are required to keep on hand
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reserve requirement
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interest banks pay to the Federal Reserve Banks for borrowing money
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discount rate
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When the OMB submits the president's budget to Congress, which Congressional Committee (3) looks at it?
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House Ways and Means Committee
Authorization Committee Appropriations Committee |
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What programs are mandatory spending (by law) required to fund?
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-entitlement programs
-social security -veterans' pensions -payment on national debt |
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Why is NAFTA controversial?
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-opposed by labor unions because of loss of jobs
-industrial capacit will be damaged due to moving of companies |
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What are two kinds of social-welfare programs?
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-social insurance programs
-public assistance programs |
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national insurance programs into which employers and employees pay taxes
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social insurance programs
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What are five categories of people who qualify for Social Security payments?
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-retired workers and their survivors over 65
-permanently and totally disabled -Medicare -Medicaid -temporarily for unemployed |
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Cost of living adjustments
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COLA
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provides government assistance to people over 65 for health care
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medicare
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What does medicare part B do and what has been its effect on the Social Security System?
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Pay 80% of the doctor's bills
Nearly bankrupted |
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provides medical and health-related services for low-income parents, children, seniors, and people with disabilities
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medicaid
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What was the largest and most controversial welfare program?
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Aid to Families with Dependent Children
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program to help disabled and the aged who are living at or near the poverty level
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Supplemental public assistance programs (SSI)
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program to improve the diet and increase the buying power of the poor
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food stamps
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What did the Welfare Reform Act of 1996 do?
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-abolished Aid to Families with Dependent Children and replaced it with Temporary Assistance to Needy Families
-cutting off adults that don't find work in 2 years -lifetime limit of five years of welfare eligibility -prohibit aliens from receiving assistance |
