TERMS
Federal program established during Lyndon Johnson's administration that provide medical care of elderly Social Security recipients
What is Medicare
This term refers to the difference between what the government spends and what it takes in through revenue, often resulting in a budget deficit.
what is Fiscal deficit
How does the government stimulate the economy during downturns, using taxation and spending as its primary tools?
Fiscal Policy
encompasses government initiatives related to K-12 education, higher education, and education funding. AP Government students may study topics such as federal education standards
Education Policy
What is the name of the central bank in the United States responsible for monetary policy?
Federal Reserve
a government program that subsidizes medical care for the poor
what is medicade
In 2020, the largest category of federal government spending in the United States was for this program, which includes retirement benefits for seniors.
What is social security
refers to the actions taken by a country's central bank (such as the Federal Reserve in the United States) to regulate the money supply and interest rates to achieve macroeconomic objectives
Monetary Policy
addresses issues related to access to healthcare services, insurance coverage, and healthcare delivery. Topics may include the Affordable Care Act (ACA), Medicare, Medicaid, and debates over healthcare reform and the role of government in healthcare provision.
Healthcare Policy
What is the name for the tax imposed on the income of individuals and businesses by the government?
income tax
a rise in the general price levels of goods and services within an economy
What is Inflation
What type of government spending involves expenditures on defense, education, transportation, and infrastructure, subject to annual appropriations by Congress?
Discretionary Spending
encompasses the regulations and agreements that govern international trade
Trade Policy
Environmental Policy
encompasses government actions and regulations related to environmental protection, conservation, and sustainability.
What term describes the total amount of money in circulation within a country's economy?
Money Supply
a form of government regulation in which the nation's money supply and interest rates are controlled
What is monetary policy
to expenditures that are mandated by law and are not subject to the annual budgetary process.
Mandatory Spending
involves decisions made by the government regarding the collection and distribution of taxes
Tax Policy
Criminal Justice Policy
nvolves the laws, regulations, and programs aimed at addressing crime, law enforcement, and the criminal justice system.
What law, passed in 2010, aimed to increase the quality and affordability of health insurance in the United States?
Affordable Care Act (ACA) or Obamacare
the economic condition that occurs when expenditures exceed reserves
What is Budget dificit
The U.S. government uses these types of bonds to finance government spending when it runs a deficit, which are considered a form of borrowing
What is treasury bond
Regulatory Policy
entails the rules and regulations established by government agencies to oversee various industries and sectors of the economy.
involves government programs aimed at providing assistance to individuals and families in need. This includes programs such as Temporary Assistance for Needy Families (TANF), Supplemental Nutrition Assistance Program (SNAP), and Medicaid.
Welfare Policy
What is the term for the total value of goods and services produced within a country's borders in a specific time period?
Gross Domestic Product (GDP)