Help
Options
Didn't know it?
click below
click below
Knew it?
click below
click below
Don't Know
Remaining cards (0)
Know
retry
shuffle
restart
0:00
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.
Normal Size Small Size show me how
Normal Size Small Size show me how
Unit 7
| Question | Answer |
|---|---|
| What is fiscal policy? | uses federal spending and taxation to stimulate or slow the economy |
| How much does the federal budget account for based on US economic activity? | 25% |
| Where does the federal budget come from? bicep | borrowing, income, payroll, corporate, excise |
| What do payroll taxes pay for? | Social Security and Medicare |
| What do excise taxes on alcohol, tobacco, gas, phones, air travel, etc. pay for? | buildings, highways, and airports |
| What portion of the federal budget is uncontrollable spending and what part is discretionary spending? | 2/3 uncontrollable 1/3 discretionary |
| How long is the fiscal year? | October 1 through September 31 of next year |
| What does the executive branch do with the budget process? | 2 years before: each department estimates costs for presidential review by Office of Management and Budget (OMB) President must submit budget recommendations between the first Monday in January and the first Monday in February |
| What does Congress do with the budget process? | They appropriate funds and raise taxes, giving president any recommendations. |
| What does the Congressional Budget Office do? P Safe | They prepare budget data for Congress, shares it with House and Senate, forecasts the economy, analyzes alternatives, and estimates 5 year cost for bills proposed. |
| What are tax expenditures? | provides tax incentives to individuals or businesses |
| What are the types of taxes? | progressive income tax regressive payroll tax value added tax |
| What is monetary policy? | manipulations supply of money and access to credit |
| Who is the federal reserve chair? | Ben S. Bernanke |
| What does the federal funds rate do? | establishes the amount of interest the Fed charges banks to borrow money; increase slows economy, decrease stimulates |
| What is laissez faire economics? | reduce spending, cut taxes, reduce regulation, light hand approach favored by republicans |
| What is Keynesian economics? | gov spending should increase in busts and decrease in booms; aggressive hand approach favored by democrats |
| What are the two goals of social policy? | 1. protect citizens against social and economic problems by creating a social safety net 2.raise the quality of life for all citizens |
| What are the 3 types of public assistance? | 1. help for poor families 2. corporate welfare to ag and corporate bailouts 3. middle class welfare to college students and home buyers |
| What was the New Deal? | Roosevelt's expansion of social programs in the 1930s to include loans to states to help poor, programs to help older workers, the jobless |
| What was created in the First 100 Days? | Federal Emergency Relief Administration (FERA), Works Progress Administration (WPA), Civilian Conservation Corps (CCC) |
| What was the CCC? | put millions of young people to work clearing trails and building roads in national forests and parks |
| What is WPA? | provided work for millions of unemployed |
| What is FERA? | gave cash to unemployed workers to get them through the summer |
| What 2 goals did social security meet? | 1. Provide a minimum income for poor beneficiaries 2. Ensure that benefits reflect amount of payroll taxes the beneficiary paid |
| What acts were created to help the poor? | Infancy and Maternity Protection Act, Aid to Families with Dependent Children (AFDC), National School Lunch Act, Federal Surplus Relief Corporation |
| What was the Great Society? | Lyndon Johnson's idea of abundance and liberty for all with an end to poverty and racial injustice |
| What is SSI? | Supplemental Security Income - provides support for elderly, poor, blind, disabled |
| What does Obamacare do? | expands health care programs (i.e. Medicaid) and creates new health insurance exchanges for those who can't afford it |
| What are the 8 provisions of Obamacare? | 1. required to buy insurance 2. poor can buy from state 3. insurance can't deny you 4. insurance extended for kids up to 26 under parent's insurance 5. Medicaid to all poor under 65 6. all over 65 get free preventative care 7. tax rises .9% |
| What does the National Security Council do? | serves directly under president to help integrate foreign, military, and economic policies that affect national security |
| What does the NSC consist of? | president, secretary of state, national security adviser, and secretary of defense |
| What does the State Department do? | negotiates treaties protects US citizens abroad promotes US commercial interests grants visas to foreign visitors staffs US embassies works with Department of Homeland Security |
| What does the CIA do? | 20,000 employees gather and analyze info from all over the world |
| What does the Border Intelligence Community do? | 24 US intelligence agencies that oversees federal counterterrorism |
| Who are the joint chiefs of staff to the DOD? | heads of all branches of military |
| How many active duty personnel does the military have? | 1.5 million |
| How much off the $555 billion defense budget is spent on private contractors? | $400 billion |
| What is conventional diplomacy? | ambassadors have face-to-face discussions and summits to share info, talk about mutual interests, and resolve conflicts |
| what is public diplomacy? | propaganda |
| How much of the federal budget is foreign aid? | 1% |
| What are economic sanctions? | denies export, import, or financial relations with target county in an effort to change that country’s policies |
| What is the only hard power? | military action/war |
| When is war most effective? | in small and medium countries for a short time |
Created by:
spschoolstudy
Popular AP Comparative Gov. sets