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
Domestic Policy
| Question | Answer |
|---|---|
| national debt | the total amount the government owes across all years |
| deficit | the annual amount by which expenditures are greater than revenues |
| discretionary spending | government spending that Congress must pass legislation to authorize each year |
| entitlement | a program that guarantees benefits to members of a specific group or segment of the population |
| excise taxes | taxes applied to specific goods or services as a source of revenue |
| Keynesian economics | an economic policy based on the idea that economic growth is closely tied to the ability of individuals to consume goods and that government spending can stimulate a lagging economy |
| laissez-faire | an economic policy that assumes the key to economic growth and development is for the government to allow private markets to operate efficiently without interference |
| mandatory spending | government spending earmarked for entitlement programs guaranteeing support to those who meet certain qualifications |
| Medicaid | a health insurance program for low-income citizens |
| Medicare | an entitlement health insurance program for older people and retirees who no longer get health insurance through their work |
| progressive tax | a tax that tends to increase the effective tax rate as the wealth or income of the tax payer increases |
| public policy | the purposeful course of action government takes to address matters of concern to some part of society |
| recession | a temporary contraction of the economy in which there is no economic growth for two consecutive quarters |
| regressive tax | a tax applied at a lower overall rate as individuals’ income rises |
| regulatory policy | a policy that regulates companies and organizations in a way that protects the public |
| Social Security | a social welfare policy for people who no longer receive an income from employment |
Created by:
sharimaclachlan
Popular American Government sets