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AP Gov - Unit 7
Eon, Enviro, Policy
| Question | Answer |
|---|---|
| Keynesian Economics | Gov't creates demand on economy |
| Isolationism | Don't get involved in world affairs <br>-Adopted after WWI |
| National Debt | Spend vs. Make <br>-Keeps growing <br>-Spiked in 1979 |
| Laissex-Fairre Policy | Freely competitive economy <br>-Gov't doesn't involve itself |
| Inflation | Value of $ goes down |
| Joint Chiefs of Staff | Consists of uniformed head of 4 army branches <br>-No authority over troops <br>-Plans strategy |
| National Security Council | Forms/directs foreign policy <br>-Chaired by pres <br>-Effectiveness affected by Pres |
| Monetary Policy | Attempt to use amount of $, bank deposits, & interest rates to affect economy |
| Fiscal Policy | Attempt to use taxes & expenditures to affect the economy |
| Tarrifs | Tax on imported goods <br>-Helps domestic business <br>-Client politics |
| Federal Reserve System | Regulates supply of $ in economy <br>-Helps minimize recession <br>-"The Fed" |
| Containment | We should contain aggressive nations <br>-Used during Cold War |
| Entitlement Programs | Claim of funds hat can't be abridges w/oo violating rights of benefactor <br>ex: Social Security |
| Deficit Spending | Spending $ while in debt |
| Devolution | Effort for nat'l gov't to move welfare, etc to state levels |
| Progressive tax | Rate of tax increases as amount of $ increases |
| Social Insurance tax | Tax on employees & employers for social security |
| Regressive tax | Tax rate decreases as amount of $ increases |
| CIA | Independent agency oversees gov't intelligence activities |
| Deflation | Decreases in supply of money and/or credit <br>-Solved by increasing $ supply |
| Estate tax | Tax on net value of estate of dead person before distribution to heirs |
| Excise tax | Tax measured by amount of business done |
| Monopolies | Exclusive control of supply/trade in an industry/service |
| Preemption | Purchase of goods/shares by one person before another person can |
| National Security Advisor | Oversees/advises nat'l security issues <br>-Part of Exec Office of Pres |
| Majoritarian Politics | Distributed benefits, Distributed costs |
| Interest Group Politics | Concentrated benefits, Concentrated costs |
| Client Politics | Concentrated benefits, Distributed costs |
| Entrepreneurial Politics | Distributed benefits, Concentrated costs |
| Monetarism | Gov't should only have steady increase in $ supply at rate equal to economic demand |
| Economic Planning | Gov't should have price & wage controls |
| Supply-side tax cuts | Less gov't interference in economy <br>-Cut tax rates sharply |
| Reaganomics | Combo of monetarism, supply-side, domestic budget cutting <br>-Reduced unemployment <br>-Created large deficits |
Created by:
kaitlynnmotley
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