Pols 112 Final

Front 1

discharge petition

Back 1

forces a bill from committee to floor of legislation

Front 2

trustee legislator

Back 2

believs that they should use thier own judgement in voting

Front 3

Delegate legislator

Back 3

reflects what the voters want more than their own oppinion

Front 4

Pork Barrel

Back 4

securing benefits for ones own district first

Front 5

keys to being elected

Back 5

name recognition, experience, money support

Front 6

most important success factor in congressional elections

Back 6

incumbancy

Front 7

conference committee

Back 7

works out differences between house and senate bills

Front 8

Swing seats

Back 8

mean elections that reflect national political sentiments

Front 9

Entitlements

Back 9

~monies guaranteed by law such as social security

~the largest spending category in the
federal budget

~guarantee payment to anyone who qualifies

Front 10

House ways and means committee

Back 10

responsible for spending (revenue) decisions

Front 11

Goal of SALT agreement

Back 11

Strategic Arms Limitation Talks

to limit deployment of strategic weapons

Soviets and US to retain enought to prevent attack by the other

did not last...

Front 12

Most rapidly decreasing item in the federal budget

Back 12

Health care

Front 13

Where do most retirement benifits go?

Back 13

to middle and upper class recipients

Front 14

Perestroika

Back 14

campaign to restrucure soviet central management

soviet economy more efficient and capitalistic

Front 15

Glasnost

Back 15

greater tolerance of free expression in soviet union

Front 16

largest item in US defense budget as of 1993

Back 16

procurement (purchasing)

Front 17

Who has major influence over military installation locations?

Back 17

congress

Front 18

Macrobudgeting

Back 18

done by OMB

Front 19

committee of the whole

Back 19

allows quorum of 100 rather than 218

Front 20

Brinkmanship

Back 20

escalates conflicts to the brink of war

Front 21

Truman Doctrine

Back 21

US supports democratic nations fighting aggression

Front 22

Recession

Back 22

2 or more quarters when GNP or GDP declines

Front 23

Gross National Product (definition, and what does it measure?)

Back 23

Sum of all goods and services produced

The way real growth of the economy is measured (controlled for inflation)

Front 24

committee chairs (who are they, and are there term limits?)

Back 24

always members of the majority party, and usually have the most seniority (based on time spent on committee, not time in congress)

Republicans place term limits on committee chairs (not dems.)

Front 25

Standing committees (what are they, what do they do, how many?)

Back 25

-permanent committees with responsibility for a particular area of public policy

-how most work in congress gets done

-20 house, 16 senate

Front 26

select committees

Back 26

created to perform specific tasks; temporary

ex: Senate select committee on intellegence: oversees CIA and other intellegence agencies

Front 27

joint committees

Back 27

composed of memebers of both houses

perform advisory functions

Ex: Joint committee on the lIbrary: oversses lib. of congress

Front 28

How many committees can a member of congress serve on?

Back 28

house: 2

Senate : 4, but only 2 major committees

Front 29

bureacratic management systems

Back 29

patronage, merit, and executive leadership systems

Front 30

patronage system of management

Back 30

called "spoils system" by critics

places political cronies in government office as a reward for partisan support

Front 31

bureacratic management systems

Back 31

patronage, merit, and executive leadership systems

Front 32

Merit system of management

Back 32

aka civil service system

certain federal employees hired through competitive examinations or by virtue of having special qualifications

goal: neutral (nonpartisan) competence

Front 33

patronage system of management

Back 33

called "spoils system" by critics

places political cronies in government office as a reward for partisan support

Front 34

Executive leadership system

Back 34

a strengthened presidency as a means of coordinating the bureaucracy's activities

increase efficiency and responsiveness

Front 35

Merit system of management (aka, what is it, what are its goals?)

Back 35

aka civil service system

certain federal employees hired through competitive examinations or by virtue of having special qualifications

goal: neutral (nonpartisan) competence

Front 36

Executive leadership system
-what is it?
-what is the result

Back 36

a strengthened presidency as a means of coordinating the bureaucracy's activities

increase efficiency and responsiveness

Front 37

supergrade (general schedules)

Back 37

the General Schedule is separated into 15 grades
-each grade is separated into 10 steps.
-GS 1–7, entry level
-GS 8–12, mid-level
-GS 13–15, top-level

supergrade: 16-18, civil servant

-eliminated under the Civil Service Reform Act of 1978; replaced by the Senior Executive Service - more recent Senior Level (non-supervisory) pay scale

Front 38

OMB

Back 38

Office of management and budget in Office of the president

experts who formulate and administer the federal budget

Front 39

CBO

Back 39

Congressional Budget Office-one of 3 congressional agencies

provides congress with general economic projections, overall estimates of gov expenditures and revenues, and specific estimates of the costs of proposed programs

Front 40

GAO

Back 40

Government accountability office- one of 3 congressional agencies

oversees executive agencie's spending of appropriated funds

Front 41

OMP

Back 41

Office of personnel Management

Supervises the hiring and classification of federal employees

Front 42

ICC (what does it stand for, how was it created, example of what they do)

Back 42

Interstate commerce commission

created by Interstate commerce act (1887)

-regulates railroad practices and fares
-began federal regulation of economic activity

Front 43

FTC

Back 43

Federal Trade Commission

Front 44

FDA

Back 44

food and drug administration

works to keep adulterated foods and dangerous or infeffective drugs off the market

Front 45

SEC

Back 45

Securities and Exchange Commission

regulatory agency

oversees the stock and bond markets

Front 46

Zero-based budgeting

Back 46

every department function is reviewed comprehensively and all expenditures must be approved, rather than only increases.

sometimes used in personal finance to describe the practice of budgeting every dollar of income that you receive, and then adjusting some part of the budget downward for every other part that needs to be adjusted upward.

Front 47

laissez-faire economy (what is it, and who favored it?)

Back 47

private persons and companies be left alone to make financial policy on production and jobs

favored by adam smith

Front 48

3 goals of budgeting

Back 48

(1) control amount of spending,
(2) allocate resources and
(3)adjust the tax laws to change how money is spent and used by the public using the Revenue & Tax Code

Front 49

all budgets include:

Back 49

general fund,
special funds,
enterprise funds,
trust funds

Front 50

Stagflation

Back 50

when there is both inflation and a depression because consumer is going into excessive credit card debt.

we face this today

Front 51

Discount rate:

Back 51

the rate of interest the FED charges member banks

Front 52

Prime rate

Back 52

the rate of interest charged by banks to their best customers

Front 53

process of making a federal (or state) budget

Back 53

-President (and governors) with OMB (or department of finance for California) submit budget
-House Committees:House Ways and
Means, Appropriations and Rules with help of Congressional Budget Office (CBO)
-Senate Committees: Senate Finance,
Appropriations.
-Conference Committee to resolve
differences before being sent to the
President or Governor for signature

Front 54

what does the consumer price index indicate?

Back 54

standard indicator of inflation

Front 55

Edward Deming says:

Back 55

"work smarter not harder"

Front 56

Externalities

Back 56

Burdens that society incurs when firms fail to pay the full costs of production and taxpayers may pay later to repair damage

Front 57

As it relates to economic policy, goal of
government is to

Back 57

make sure the transaction is
fair to each party such as no price fixing,
monopolies, insider trading, fraudulent
misrepresentation and product liability

Front 58

Fiscal policy

Back 58

a tool of economic management by which gov attempts to maintain a stable economy through its taxing and spending decisions

Front 59

Monetary policy

Back 59

a tool of economic management available to gov, based on manipulation of the amount of money in circulation

Front 60

demand-side fiscal policy (Definition and which admin did this)

Back 60

gov can use increased spending or tax cuts to place more money in consumer's hands, thereby increasing demand

johnson admin.

Front 61

financial stability of the social security trust fund is helped by:

Back 61

low inflation

Front 62

detante

Back 62

french: a relaxing

used to refer to an era of imporved relations between the US and Soviet union that began in the early 70's.

Front 63

Deterrence policy

Back 63

the idea that nuclear war can be dicouraged if each side in a conflict has the capacity to destroy the other with nuclear weapons

Front 64

Means tested

Back 64

applicants for public assistance (welfare) must demonstrate eleigiblilty based on income level

Front 65

Supply-side fiscal policy

Back 65

emphases (supply) production. Puts more money in business by tax cuts / incentives and encourages more production thus creating “trickle-down” benefits for lower income

Front 66

Entitlements
-what are they?
-how much of the fed. budget do they make up?
-which is the largest entitlement program?

Back 66

required budgeted programs-money musts be spent

largest category of fed. budget

guaranteed payments for those who qualify

social security is largest entitlement program

Front 67

Federal reserve bank:
-is it dep. on congress?
-open or closed sessions?
-what can it do with interest rates?
-how long are terms, and how does one land in the fed?

Back 67

-Fed is independent of Congress
-Generates its own revenues
-Holds closed session to all but fed
governors
-Can hike interest rates and use the discount rate
-Long terms in office and appointed

Front 68

Factor price equilization

Back 68

-The skills of American workers must be at least equal to those in other countries otherwise American workers will work for wages similar to those in other countries
-We need training programs for the non- college educated student
-outsourcing can determine your earned income and wealth

Front 69

Art of reverse engineering

Back 69

is ability to copy your ideas and produce products 10+% cheaper as the expense of the U.S. labor force

we discover, they develop and profit.

Front 70

What weakens the dollar?

Back 70

Excessive Debt, Deficits & trade
deficit

Front 71

Theory of comparative advantage

Back 71

trade can benefit all parties involved (countries, regions, individuals and so on), as long as they produce goods with different relative costs.

efficiency of imports and exports

Front 72

balance of payments

Back 72

measures the payments that flow between any individual country and all other countries. It is used to summarize all international economic transactions for that country during a specific time period, usually a year

Front 73

politico

Back 73

legislate following own judgement or constituents depending on issue

Front 74

indexing

Back 74

tax rates linked to changes in consumer prices (index)

Front 75

during a recession, what can the president do?

Back 75

the president can return appropriated funds to Treasury

Front 76

Sequester

Back 76

automatic budget cuts

Front 77

Auditing

Back 77

the General Accounting Office to check spending

Front 78

GDP

Back 78

GDP is defined as the total market value of all final goods and services produced within the country in a given period of time

Front 79

income policy

Back 79

voluntary or mandatory wage and price controls

Front 80

mutually assured destruction

Back 80

inflict unacceptable damage

Front 81

military-industrial complex

Back 81

composed of a nation's armed forces, its suppliers of weapons systems, supplies and services, and its civil government

Front 82

Macrobudgeting

Back 82

—high level decisions on spending, revenue and deficit aggregates and relative budget share, often made from top to down.

-done by director of OMB

Front 83

Microbudgeting

Back 83

—intermediate level decisions on agencies, programs, and line-items, usually made from the bottom up

-done by congressioal appropriations committee

Front 84

line-item veto

Back 84

the power of an executive to nullify or "cancel" specific provisions of a bill, usually budget appropriations, without vetoing the entire legislative package.

The line-item vetoes are usually subject to the possibility of legislative override as are traditional vetoes.

Front 85

reconcilliation

Back 85

-The reconciliation directive instructs various committees to produce legislation by a specific date that meets certain spending or tax targets.
-The Budget Committees then package all of these bills together into one bill that goes to the floor for an up-or-down vote, with only limited opportunity for amendment.

Front 86

Rescission

Back 86

-the unmaking of a contract between the parties

-The President can force Congress to vote on rescinding (or permanently withholding) already appropriated funds.

Front 87

Deficit

Back 87

spending more than revenues during the fiscal year

Front 88

Debt

Back 88

cumulative effect of all deficits

Front 89

Employment act of '46

Back 89

set a goal of maximum employment & productivity

Front 90

Keynesian economic therory

Back 90

demand-side stimulation

notes a balance between unemployment and inflation

Front 91

Federal open market committee

Back 91

component of the Federal reserve bank

can lower discount rate by selling securities

Front 92

workfare

Back 92

recipients have to meet certain participation requirements to continue to receive their welfare benefits

must maintain employment at a minimum wage

Front 93

National security policy

Back 93

the size and shape of the military, and strategies

diplomacy, military force, economic exchange, and intelligence gathering

Front 94

SDI

Back 94

Strategic defense initiative

land and space-based anti-missile protection