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Government
Final Exam Review
| Question | Answer |
|---|---|
| Two government entities that oversee the federal budget and taxation | Congress President |
| Parts of the US government that does fiscal policy implementation | Legislative Branch Executive Branch |
| Parts of the US government that does monetary policy implementation | Federal Reserve |
| Government policy regarding taxing and spending | Fiscal Policy |
| Combination of economic slowdown (stagnation) and high inflation; slow or zero economic growth, high unemployment and rising prices | Stagflation |
| An increase in the overall price level of goods and services produced in an economy | Inflation |
| Central bank policy aimed at regulating the amount of money in circulation; money supply | Monetary Policy |
| A policy designed to lower inflation and cool an overheated economy by cutting government spending, increasing taxes, or both | Contractionary fiscal Policy |
| A policy designed to promote economic activity by increasing government spending, cutting taxes, or both | Expansionary Fiscal Policy |
| Central Bank of the United States | Federal Reserve |
| Amount of tax paid by an individual/company as a portion of total income and how it impacts affordability of basic necessities | Tax Burden |
| A policy or action designed to promote business activity and stimulate economic growth | Economic Stimulus |
| Spillover effects resulting from production or consumption. They are costs or benefits that affect someone other than the producer or consumer of a good or service. | Externalities |
| A unit of government created to set and enforce standards for a particular industry or area of economic activity | Regulatory Agency |
| The process of removing government restrictions on firms in order to promote competition or encourage economic activity | Deregulation |
| The establishment, by the government, of rules aimed at influencing the behavior of firms and individuals. It can involve setting prices, establishing product and workplace standards, and limiting entry into an industry. | Regulation |
| Tax that is assessed regardless of income, in which low- and high-income earners pay the same dollar amount | Regressive Tax |
| A tax that takes the same share of income at all income levels | Proportional (flat) Tax |
| One where the average tax burden increases with income | Progressive Tax |
| Ideology is based on environmentalism | Green Party |
| More likely to have liberal views, support government regulation of business, favor regular increase in minimum wage | Democratic Party |
| Has an ideology that advocates government controlled economy and democracy as a governing principle | American Socialist Party |
| Formed to oppose or promote one issue | Single issue party |
| Has an ideology based on a strong belief in personal freedom; tend to be conservative on economic issues and liberal on social issues. | Libertarian party |
| More likely to have conservative views, be opposed to excessive business regulations, oppose minimum wage | Republican |
| A person or party that aligns with an ideology favoring a limited role for government and more private initiative by nongovernmental groups in efforts to solve society’s problems | Conservative |
| A political system in which two parties dominate the electoral process and control the government | Two Party System |
| Person or party that aligns with an ideology favoring an active role for government in efforts to solve society’s problems | Liberal |
| The means of communication, like radio, newspaper, news broadcasts, internet news, podcasts, magazines | Media |
| A plan or course of action initiated by government to achieve a stated goal | Public Policy |
| A political party’s statement of principles and objectives | Platform |
| An organization that seeks to achieve power by electing its members to public office | Political Party |
| Any organized group whose members share a common goal and try to promote their interests by influencing government policymaking and decision making | Interest Group |
| Political Process Actions | Voting, Join an interest group, Protesting, Donating money to a cause |
| Public Policy Actions | City council vote on a downtown parking policy, Ohio governor signing an executive order, Congress voting to pass a treaty, Ohio congress changes the driving age to 21 |
| A formal expression of opinion or choice made by an individual in an election | Define vote |
| Actions by individuals or groups to influence government policy | Political Process |
| Ask in writing formally, can be one signed by many people, appealing to authority with respect to a cause | Petition |
| A public display/event expressing an attitude/belief toward an issue/matter, can include picketing, parading, sitin, etc | Demonstration |
| A plan or course of action initiated by government to achieve a stated goal | Public Policy |
| A person who performs a service willingly and without pay; and example is cleaning or working for a charity unpaid | Volunteer |
| An event/movement used to generate financial support for a charity or other cause (not a business) | Fundraiser |
| Promoting the quality of life in a community, through both political and non-political processes, includes paid and unpaid forms of political activism, environmentalism, and community & national service | Civic Engagement |
| Properly order the extension of suffrage or removal of voting obstacles for minorities from 1870 to present, starting with the oldest event | Extends the vote to African American Males, including former slaves. Extends the right to vote to women. Voting rights Act protects the voting rights of African Americans. Lowers the voting age to 18. |
| To treat a person or group as unimportant | Marginalized |
| Guarantees of equal rights and equal treatment under the law, such as trial by jury and voting rights | Civil Rights |
| The idea that decisions approved by more than half of the people in a group or society will be accepted and observed by all of the people | Majority Rule |
| A legal process through which a person not granted citizenship by birth can become a citizen of that country | Naturalization |
| The status of being a citizen, a person who by birth or naturalization enjoys certain rights and has certain duties in a nation-state | Citizenship |
| The attitude, spirit, and willingness of people to engage together in civic activities; the connections and bonds that people can draw on to solve common problems | Social Capital |