ap gov
Terms
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- secretary of the treasury
- the position of the head of the Treasury Department
- economic planning
- An economic philosophy that assumes that the government should plan, in varying ways, some part of the country's economic activity. For instance, in times of high inflation, it suggest hat the government regulate the maximum prices that can be charged and wages that can be paid, at least in the larger industries.
- medicare
- health care for the aged
- reaganomics
- 1980s; Reagan's economic program which cut taxes and government regulation in order to increase productivity, nd eventully increase tax revenue as cash flowed in the economy
- policy entrepreneurs
- people who invest their political "capitol" in an issue.
- tax loopholes
- All manner of special interests can get some special benefit from the tax law that the rest of us must pay for but, given the complexity of the law, rarely notice. Loopholes are client politics par excellence.
- client politics
- when a small, identifiable group will benefit but the majority of society will pay the cost
- progressive tax structure
- a tax structure with higer tax rates as income increases (income taxes); the rich are able to pay higher taxes
- entitlements
- Medicare, Medicaid, Social Security, food stamps etc.; gov. help that's expected by the people; becomes expensive
- 16th amendment
- Amendment to the United States Constitution (1913) gave Congress the power to tax income.
- office of management and budget
- the executive agency that advises the President on the federal budget
- budget
- a summary of intended expenditures along with proposals for how to meet them
- tax cut
- Johnson rose the Gross National Product, unemployment fell, and inflation remained in check
- interest group politics
- a policy that will confer benefits on one small group, and costs on another small group
- medicaid
- health care for the needy
- majoritarian politics
- when elected officials are the delegates of the people, acting as the people would if a matter where put to popular vote.
- entrepreneurial politics
- a large part of society benefits from a policy that imposes costs on a small segment of society
- aid to families with dependent children
- feder fundds, administered by the states, for children living with parents or relatives who fall below state standards of need.
- environmental protection agency
- an independent federal agency established to coordinate programs aimed at reducing pollution and protecting the environment
- keynesianism
- the economic theories of John Maynard Keynes who advocated government monetary and fiscal programs intended to stimulate business activity and increase employment
- federal reserve board
- the 7-member board governing the Federal Reserve System
- political agenda
- Issues that people believe require governmental action
- council of economic advisers
- organization within the EOP that advises the president on economic matters
- appropriation bill
- a legislative act proposing to authorize the expenditure of public funds for a specified purpose
- monetarism
- an economic theory holding that variations in unemployment and the rate of inflation are usually caused by changes in the supply of money