Details Title: Final 2 Description: na Total Flash Cards: 22 Created: 12/11/2008 13:13:13		New Users: To study from this flashcard set, or to create your own your own study flash cards, REGISTER HERE. Existing Users: CLICK HERE. Additional Plant Sciences Flashcards
Cards in this set: Term over 70% of taxes Definition top 10% of income earners in the U.S pay____ taxes Term Keynesian Economics Definition in recessions, the govt should undertake actions to stimulate the economy Term issue identification and agendasetting Definition first stage in the policy makinng process consists of Term public debt Definition every time there is a federal government deficit, there is an increase in total accumulated Term social welfare Definition policy consists of all govt actions that are under taken to give assistance to specific groups, such as the aged, ill, and poor Term supplement security income ISS Definition this program establishes nationwide minimum income for the aged, blind, and disabled Term fiscal policy Definition this policy is the use of changes in govt expendenture and taxes to alter national economic variable Term doesnt rest with one individual or institution Definition power to create fiscal policy Term consumption tax Definition tax on differance between what people earn and what they save Term Earned Income Tax Credit Definition this program was created to provide rebates of social security taxes for the low income workers Term 10% Definition property loss is about what percent of the total cost of crime Term $ 455 billion Definition total yearly cost of crime in the US Term temporary assistance for need families Definition under the new welfare system in 1996. federal govt turns over to the states funds targeted for Term redistribute income Definition social insurance programsand public assistance programs are govt progems that Term economic policy Definition this policy consists of all action, taken by the national govt. to smooth out the ups and downs in the nations business activity Term monetary policy Definition this policy involves changing the amt of $ in circulation so as to affect interest rates, credit markets, rate of inflation, rate of economic groth and unemployment Term federal reserve system Definition who determines monetary policy Term President Senate Definition Members of the federal reserve system's board of governers are appointed by who and confirmed by who Term reduce the rate of growth in the amt of money in circulation Definition in periods of rising inflation, the fed typically Term medicare Definition social insurance program under which the federal govt. pays for part of the cost of medical care for retired persons Term Payroll taxes on employers and emplyees Definition how is medicare financed Term social security Definition intergenerational income transfer that is only vaguley related to past yearnigns