Policy Making Test

• Everyone benefits from a policy
• Everyone pays for a policy

One groups wants low taxes and no deficit while the other wants generous spending on cvurrent programs while and the creation of new ones.

Economic philosophy that believes inflation occurs when theres too much money chasing to few good. Solution is to have a steady increase in the money supply at an equal rate to the production of goods.

Economic philosophy that states thew economy will not fully operate at full employment and low inflation level. Solution would be to find a perfect balance and know when to take out money.

Economic philosophy that asks the government to plan some part of the country's economic activity

Government planning or subsidizing investments in industries that need to recover or in new industries that coul replace them

Economic philosophy that says sharp tax cuts will give people an insentive to work, save, and invest,.

The attempt to use taxes and expenditures to effect the economy; buidgeting and appropriating money that is already in the economy; handled by the president and Congress

when the goverment spends more that in takes in, putting more money into the economy

when the government takes in more money than it spends; thus taking money out of the economy

An attempt to use the amount of money and bank deposists and the price of money to affect the economy; the supply of money in the economy; handled by the federal reserve

An economic system which individuals and corporations own the principle means of production and seek profits

An economic system in which the government is deeply involved in the economic deicisions through its tole as regulator, consumers, emploiyer, and borrower.

The CEA is an impartial group of experts resonsible for forecasting economic trends, analyzing economic issues, and helping prepare economic reports that the President send to Congress every year

Employs skilled economist who try to estimate the amount of money that will be spent by federal agencies, negotiates that size of budgets with departments, and makes sure that legislative proposals are in accordance with the president program

The president submits the budget to both Houses of COngress, the two budget committes study the budget and get an analysis from the CBO. Each committe then submits a budget resolution to its house. From May till the summer, Congress adaptd and appropriates the duget resolution. After the committee approves it, it goes to the President to sign it.

Claims for government funds that cannott b abriged without violating the rights of the claimaint. Affects the federal budget by controllign the amount of money that goes in and out of the economy.

It forced committes to act on the budget together rather than seperately.

An automatic, across the board cut in certain federal programs that are triggered by law when Congress and the President cannot agree on a spending plan

An act that was mad eto put a cap on spending by requiring the budget to be automatically cut until the federal deficit dissappered.

It required recipients to find a job within two years and limited the time a person could recieve welfare to two years.

The Secretary of State is unable to coordinate and direct enormous forgein policy establishments

The NSC is a group that helps the president deal with forgein, military, and economic policy that affects national security. The coordinator of this gtroup is the national security advisor.

Term used to describe great public suppoort during a tiem of military crisis.

The alliance between key military, governmental, and sorporate decision nakers involved in weapons procurment and military supports system.

• How much money the defense program has
• How the defene programs divides its funds
• How many weapons they need
• How many people are in the army

• People underestimate the cost
• Hard to know how much an item that has never been made will cost
• Those who ask for items are gulty of gold plating. which is very expensive
• New weapons ar eonly produced by one company, which limits competition
• When Congress cuts the military budget it increase the tiem it takes to make weaposn to save moeny

Readiness because it doesnt have any constituencies which causes it to not have any congressinal defenders.

It prohibitted gender discrimination in the workplaces, extended to sexual harassment

provided equal funding for all programs that recieve federal funding

It made it illegal to discriminate based on disability

Two cases that are the same but deal with different instances that are combined into one big case.

All the goods and services in a country produced in a certain year.

Key measure of inflation that relates to the rise of prices over time.

A drop in GDP for 6 consecutive months

When employment is at 20%

Selling and buying bonds to stimulate the economy

• -Setting the federal fund ratre/interest rates
• -Quantitative easing

Stabalizes currency with trade

gives loans to developing countries to help build infestruture