AP Gov Terms Ch. 18

a specific course of action taken by government to achieve a public goal

the informa list of issues that Congress and the president consider most important for action

a type of policy that provides benefits to all Americans

a type of policy that takes benefits (usually through taxes) from one group of Americans and gives them to another (usually through spending)

a tax whereby people with lower incomes pay a high fraction of their incomes than people with higher incomes

a precise legal definition of how government will implement a policy

A policy making alliance that involves very strong ties among:

• 1.) a Congressional committee,
• 2.) an interest group, and
• 3.) a federal deparment or agency

a policy making alliance among loosely connected participants that comes together on a particular issue, then disbands

government policy that attempts to manage the economy by controlling taxing and spending

government policy that attemps to manage the economy by controll the money supply and thus interest rates

a rise in general price level (and decrease in currency value) owing yo an increase in the volume of money and credit in relation to available goods

the number of Americans who are out of work but actively look for a job (does not include those not looking for a job)

tax levied on importants to help protect a nation's industries, labor, or farmers from foreign competition (and/or to raise additional revenue)

consumer tax on a specific kind of merchandise, such as tobacco

a tax graduated so people with a higher income pay a higher portion of their income than those with lower incomes

difference between government revenue and government spending (usually in the negatives)

how much the government owes from financiancing the deficit

total output of all economic activity of a nation

government programs, such as unemployment insurance, disaster relief, and disability payments, that provide benefits to all eligible citizens

Office of Management and Budget (clearing house for budgetary requests and manages improvements for government agencies)

Congressional Budget Office (an agency of Congress that analyzes presidential budget recommendations and estimates the cost of proposed legislation)

general tax on sales transactions

tax on increased value of a product at each stage of production rather than just at the point of sale

loss of tax revenue due to federal laws that provide special tax incentives or benefits to individuals or businesses

theory that government should control money supply to encourage economic growth and restrain inflation

• "the fed"
• created by Congress in 1913
• conists of 12 regional bankes supervised by the Board of Governors
• establishes banking practices and regulates currency in circulation and the amount of credit available

theory that opposes government interference in economic affairs beyond what is necessary to protect life and property

• "spend your way out of debt" theory
• government should increase spending during business slumps and curb itself during business booms

imbalance in international trade where value of imports exceeds value of exports

international organization that promotes free trade around the world

derived from the General Agreement on Tarriffs and Trade (GATT)

international trade organizationthat seeks to encourage free trade by lowering tariffs and other trade restrictions

agreement signed by US, Mexico, and Canada to form the largest free-trade zone in the world

policy of erecting trade barriers to protect domestic industry

government altering free economic operation for social goals like protecting workers and the environment

• domination of a company by a single industry
• company that dominates the industry
• the board game at the heart of all broke sibling relationships :P

monopoly that controls good and services to reduce competition

federal laws that try to prevent monopolies

a company with a labor agreement in which union membership is a condition of employment

companies in which an employee must join a union within a state time period

court order forbidding striking to protect employer or community

method through which unions negotiate with companies or industries for better employment conditions

required statement assessing agency's actions' impact on environment

cutting back on number of regulations in place