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24 Cards in this Set
- Front
- Back
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national debt
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the total of the nations unpaid deficits
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regressive tax
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a tax that, even if a fixed rate takes a higher proportion of lower incomes
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Temporary assistance to needy families TANF
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a welfare program of block grants to states that encourages recipients to work in exhange for timelimited benefits
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social insurance
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a program that offers benefits in exhange for contributions
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balanced budget
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a budget in which expenditures equal revenues
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cost benefit analysis
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an evaluation method in which the costs of the program are compared to the benefits of the policy
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economic policy
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all different strategies taht goverment officials employ to solve economic problems
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entitlement program
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a federal program that gaurantees benefits to qualified recipients
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surplus
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an excess of income over expenditures
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interest rate
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the cost of barrowing money calculated as a percentrge of the ammoujtn barrowed
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capital gains tax
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a tax levied on returns from capital investments such as profits from sale of real estate
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regulatory policy
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a policy designed to restrict or change the behavior of certain groups or individuals
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means tested program
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social programs whose beneficiaries qualify by demostrating need
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Federal reserve system
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a twelve bank body established in 1913 to oversee monetary policy by controlling the amount of money banks and other instituions have available to loan
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progressive tax
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a tax rate whose rate increases with income levels
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fiscal policy
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the governments use of its taxing an spending powers to regulate the economy
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distributive policy
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a policy by the whole taxpayer base that address the needs of particular groups
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poverty threshold
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the income level below which a family is considered to be poor
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monetary policy
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the use of interest rates to control the money supply in order to regulate the economy
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Mass media
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means of conveying information to large public audiences
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social welfare policy
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public policy that seeks to meet the basic needs of poepel who are unable to provide for themselves
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deficit
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a shortfall between income and expenditure
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social security
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a social insurance progarm under which individuals make
contributions during working years and collect benefits in retirement |
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supply side economics
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the reagan administrations idea that tax cuts would ultimately generate more not less government revenues by allowing for increased investments and productivity
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