Ch.10 Government
Everyone should have a share of worldly goods.
What is Equality of Condition?
Philosophy in which persons that act in the interest of others are ultimately serving their own interests.
What is Enlightened Self-Interest?
A tax in which the tax rate increases as the taxable amount increases
What is Progressive Tax?
The process of short-term borrowing money and targeting inflation rates and interest rates in order to stabilize prices, usually carried out by banks
What is Monetary Policy?
A concept that no person should be held back because of race, religion etc. at birth.
What is equality of opportunity?
Process where individuals learn and share their perceptions of politics and political values.
What is political socialization?
A tax in which the tax rate decreases as the taxable amount decreases
What is Regressive Tax?
Government actions regarding taxing and spending
What is Fiscal policy?
The governmental authority is prescribed, restricted, and limited by law or by the constitution.
What is Limited Government?
A certain set of values, ethical ideals, principles, that explain how a society should function and offers some political and cultural blueprint for social order.
What is political ideology?
A tax with a constant marginal rate
What is Flat tax?
Budget that the government is required to set aside money for
What is Mandatory spending?
the restriction of the arbitrary exercise of power by subordinating it to well-defined and established laws.
What is Rule of Law?
A small quantity that represents a larger whole.
A federal program which grants money to people if they meet certain eligibility criteria.
What is Entitlements?
A list of subjects or problems to which government officials, as well as individuals outside the government, are paying serious attention at any given time.
What is Policy agenda?
The amount that is allowed for cases of miscalculation or change of circumstances.
What is Margin of error?
An optional part of fiscal policy and implemented through an appropriations bill.
What is Discretionary spending?