Government Exam

Front 1

National Debt

Back 1

total of deposits in U.S. Treasury Security accounts in the Federal Reserve Bank

Front 2

Budget Resolution

Back 2

form of a concurrent resolution passed by both the House of Representatives and the Senate but is not presented to the President and does not have the force of law

Front 3

Fiscal Year

Back 3

a year as reckoned for taxing or accounting purposes.

Front 4

Budget Deficit

Back 4

indicator of financial health in which expenditures exceed revenue

Front 5

Inflation

Back 5

a general increase in prices and fall in the purchasing value of money.

Front 6

Subsidies

Back 6

The difference between costs and how much you pay

Front 7

Externalities

Back 7

Costs that are passed down the line

Front 8

Deregulation

Back 8

Removal of oversight

Front 9

Tariff

Back 9

Taxes on foreign goods

Front 10

Gross Domestic Product (GDP)

Back 10

Total sum of goods and services

Front 11

Laissez-faire capitalism

Back 11

Don't punish people for wealth

Front 12

interventionist state

Back 12

Government takes roll in economy

Front 13

Globalization

Back 13

process of interaction and integration among the people, companies, and governments of different nations

Front 14

Federal Funds Rate

Back 14

interest rate at which depository institutions (banks and credit unions) lend reserve balances to other depository institutions overnight, on an uncollateralized basis

Front 15

Monetarists

Back 15

People who regulate money circulation

Front 16

Supply-side economics

Back 16

Lessen regulation, increase supply money

Front 17

Demand-side economics

Back 17

economic activity and short-term fluctuations is the demand for goods and services, the theory is sometimes called demand-side economics.

Front 18

Negative Government

Back 18

negative right is a right not to be subjected to an action of another person or group—a government, for example—usually in the form of abuse or coercion

Front 19

Positive Government

Back 19

Law actually and specifically enacted or adopted by proper authority for the government of an organized jural society

Front 20

Regressive Taxation

Back 20

tax rate decreases as the amount subject to taxation increases

Front 21

Progressive Taxation

Back 21

tax rate increases as the taxable amount increases

Front 22

Social Insurance

Back 22

a system of compulsory contribution to provide government assistance in sickness, unemployment, etc.

Front 23

Medicaid

Back 23

health care program that assists low-income families or individuals in paying for long-term medical and custodial care costs.

Front 24

Medicare

Back 24

federal health insurance program for people who are 65 or older, certain younger people with disabilities

Front 25

Means-testing

Back 25

make (a welfare payment, etc.) conditional on a means test.

Front 26

In-kind benefits

Back 26

employees or directors receive from their employment but which are not included in their salary cheque or wages.

Front 27

Poverty line

Back 27

Cost of food for a family of 4, times 3 (24,250)

Front 28

Costs of living allowances

Back 28

Periodic increase in wages or salaries, to compensate for loss in purchasing power of money due to inflation.

Front 29

Economic Recession

Back 29

a decline in gross domestic product (GDP) for two or more consecutive quarters

Front 30

Economic Depression

Back 30

a sustained, long-term downturn in economic activity in one or more economies

Front 31

Nation-States

Back 31

a sovereign state whose citizens or subjects are relatively homogeneous in factors such as language or common descent.

Front 32

Rational Actor

Back 32

Has best interest in mind

Front 33

Hegemony

Back 33

leadership or dominance, especially by one country or social group over others.

Front 34

Monroe Doctrine

Back 34

warns European nations that the United States would not tolerate further colonization or puppet monarchs

Front 35

Truman Doctrine

Back 35

Communism=cancer

Front 36

Roosevelt Corollary

Back 36

addition to the Monroe Doctrine articulated by President Theodore Roosevelt

Front 37

Bush Doctrine

Back 37

unilaterally withdrawing from the ABM treaty and rejecting the Kyoto protocol

Front 38

Isolationism

Back 38

a policy of remaining apart from the affairs or interests of other groups, especially the political affairs of other countries.

Front 39

Engagement

Back 39

a hostile encounter between military forces

Front 40

Containment

Back 40

the action or policy of preventing the expansion of a hostile country or influence.

Front 41

Hard Power

Back 41

a coercive approach to international political relations, especially one that involves the use of military power.

Front 42

Soft Power

Back 42

a persuasive approach to international relations, typically involving the use of economic or cultural influence.

Front 43

Most Favored Nation status

Back 43

A country grants this clause to another nation if it is interested in increasing trade with that country.

Front 44

World Trade Organization

Back 44

The World Trade Organization is an intergovernmental organization which regulates international trade.

Front 45

Cold War

Back 45

The Cold War was a state of political and military tension after World War II between powers in the Western Bloc and powers in the Eastern Bloc.

Front 46

Mutually Assured Destruction

Back 46

full-scale use of nuclear weapons by two or more opposing sides would cause the complete annihilation of both the attacker and the defender

Front 47

Military Industrial Complex

Back 47

a country's military establishment and those industries producing arms or other military materials, regarded as a powerful vested interest.

Front 48

Détente

Back 48

the easing of hostility or strained relations, especially between countries.

Front 49

Unilateralism

Back 49

the process of acting, reaching a decision, or espousing a principle unilaterally.

Front 50

Multilateralism

Back 50

multiple countries working in concert on a given issue

Front 51

Bipolar World

Back 51

2 powers

Front 52

Unipolar World

Back 52

1 power

Front 53

Non state actors

Back 53

an individual or organization that has significant political influence but is not allied to any particular country or state.

Front 54

North Atlantic Treaty Organization

Back 54

The North Atlantic Treaty Organization, also called the North Atlantic Alliance, is an intergovernmental military alliance based on the North Atlantic Treaty which was signed on 4 April 1949.

Front 55

Non Governmental Organization

Back 55

not-for-profit organization that is independent from states and international governmental organizations

Front 56

Breton Woods Conference

Back 56

officially known as the United Nations Monetary and Financial Conference, was a gathering of delegates from 44 nations that met from July 1 to 22, 1944 in Bretton Woods, New Hampshire, to agree upon a series of new rules for the post-WWII international monetary system

Front 57

Reserve Currency

Back 57

held in significant quantities by governments and institutions as part of their foreign exchange reserves.

Front 58

International monetary fund

Back 58

189 countries working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty

Front 59

World Bank

Back 59

international financial institution that provides loans to developing countries for capital programs

Front 60

First world nations

Back 60

Aline with U.S.

Front 61

Second world nations

Back 61

Warsaw packed (Soviet Union)

Front 62

Third world nations

Back 62

Traded with both first and second non-alined national

Front 63

Fourth world nations

Back 63

Power vacuum, no law

Front 64

Newly industrialized nations

Back 64

socioeconomic classification applied to several countries around the world by political scientists and economists.