Vocabulary
History
Case Study
Interest Groups
Challenges
100
Gross domestic product (GDP)
What is the total of all goods and services produced in a country?
100
1895
When was the first income tax ruled unconstitutional?
100
Recession
What is a term used for when the economy gets bad?
100
Interest Rates
What determines the value of money set by the FED?
100
During good economic conditions.
When is an incumbent more likely to win?
200
Monetarism
What is the belief that inflation is a effect of too much money and too few goods?
200
16th amendment
What amendment allows income taxes?
200
Packaging together mortgages complexly.
How did banks avoid government regulations?
200
Regulate supply of money, set interest rates
What does the FED do?
200
Cutting down on excess spending (even though they spend even more)
How do congressmen try to lower the deficit? (and fail)
300
Economic Planning
What is the belief that government plans can stimulate the economy?
300
Loopholes and tax exemptions
How do the rich pay less income tax?
300
8.4 million
How many jobs were lost in the recession?
300
Helps develop a budget and send to congress
What does the Office of management and budget do?
300
We have to spend money, even if we don't have it.
What is an argument that deficit spending is good?
400
Supply-side theory
What is the belief that lower taxes and less regulation will improve the economy?
400
Tax reform act of 1986
What act reformed taxes? (include year)
400
Making new regulations
How did the government try preventing recessions like this from happening again?
400
Emergency committee for American Trade
What is an interest group that is against free trade?
400
Long debates with no compromising.
How does polarization challenge the passing of budget legislation?
500
Budget Resolution
What is a Congressional decision that states the maximum amount of money the government can spend?
500
World War II
What event made tax rates go up even higher in the mid 20th century?
500
Government forced the mortgages to be lower because people couldn't pay the high rates.
Why did the value of mortgages lower?
500
Concord coalition
What is a non-party oriented grassroots interest group that works to educate the public?
500
List 3 reasonable things
How do interest groups impede budget resolutions in Congress? (3 reasons)
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