Ideology and Economics
Keynes believed the government should create the right level of this is the economy.
What is demand.
Fiscal policy involves these two government actions.
What are taxing and spending.
When there are too many dollars in production, this occurs.
What is inflation
Government services/payments that are provided by law.
Entitlements
______________ tend to think that government should not regulate private, person matters.
The government putting $10 billion into the economy to generate $15 billion in output is know as the ____________ effect.
What is the multiplier effect.
The two policymaking institutions involved in fiscal policy.
What are Congress and the President.
This manages the money supply.
What is the Federal Reserve
Medicare, Medicaid, Social Security, block grants, financial aid, food stamps, money owed on bonds, interest, etc. are all this type of spending.
What is mandatory.
This court case established a right to privacy in personal matters.
What is Griswold v. Connecticut
This president based the WPA, PWA and other programs on the Keynesian ideology.
Who is FDR.
The 2009 Recovery and Reinvestment Act is an example of this type of economic policy.
What is Keynesian.
Two ways the Federal Reserve regulates the money supply.
Buying and selling bonds
Regulating bank reserves
Interest rates
What is the "third rail" of politics?
Both conservatives and liberals have joined in opposing this type of government activity.
Supply-side economics involves determining the right level of these.
What are taxes.
Supply-side economics is related this French economic theory.
"Laissez faire" (let it be)
Supporters of monetary policy to control the economy are usually of this ideology.
What are conservative
Conservatives and libertarians believe that __________________ can do a better job of providing health care.
What are private companies.
Masterpiece Cake Shop v. Colorado dealt with this specific constitutional clause.
What is the Freedom of religion or Free exercise clause
This president passed the Tax Cuts and Jobs Act, overhauling the tax code.
Who is Trump.
For the most part, America's tax code follows this model.
progressive
Critics of the monetary policy approach blame the approach, in part, for causing this.
What is the Great Recession of 2007
This president dealt a blow to organized labor by declaring the strike of air traffic controllers illegal.
Who is Ronald Reagan.
Vouchers are an example of a ____________ market approach to education.
What is free.