Term
| Federal and State regulations are sources of what? |
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Definition
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Term
| True or False: Each state has its own regulatory process and it varies from state to state. |
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Definition
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Term
| What is the Iron Law of Regulation? |
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Definition
| any regulatory agency creates winners and losers within the affected industry. |
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Term
| What are the first 3 steps of the Federal Regulatory Process? |
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Definition
1. A bill becomes a law.
2. Law is published in the Statutes at Large and eventually in the US Code.
3. The law may call for development of specific regulations for a specific subject, or problem and may specify a federal agency to oversee the regulatory process. |
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Term
| What are steps 4 and 5 of the Federal Regulatory Process? |
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Definition
4. A federal agency drafts a regulation and publishes it in the Federal Register for comments.
5. Comments received, revisions may take place; final regulation is published in the Federal Register |
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Term
| What is step 6 of the Federal Regulatory process? |
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Definition
| 6. Final regulation will be published in the next annual revision of the Code of Federal Regulations. |
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Term
| How is the CFR organized? |
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Definition
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Term
| What are steps 7 & 8 of the Federal Regulatory Process? |
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Definition
7. Enforcement of the regulation is assigned to specific federal agencies. Some agencies have courts that try violators of regulations.
8. Through trial and error, revisions are made to the regulation. Revisions of regulations appear in the FR and then final revisions in the CFR. |
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Term
What are the 4 steps for state regulatory processes?
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Definition
1. Legislative actions (laws)
2. The regulations are written by an agency
3. published in a state registar
4. administered and enforced by a state agency |
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Term
| True or False: State regulatory processes vary by state, but generally it follows the same procedures as the federal level. |
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Definition
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Term
| What are the reasons for governmental regulations? (7) |
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Definition
1. Safety
2. Health
3. Competition
4. Too much competition
5. order in society
6. order in industry
7. externalities |
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Term
| True or False: Regulation involves a lax set of economic and political forces. Public choice analysis provides no insight. |
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Definition
| False: involves complex forces; public provides insight. |
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Term
| What does Public insight suggest for the political economy of regulation? |
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Definition
1. demand for regulation often stems from special-interest and redistribution concerns.
2. through time regulatory agencies often adopt the views of the interest groups they regulate.
3. regulation is inflexible; it will be slow to adjust to changing conditions.
4. Failure to approve a highly beneficial product will cause fewer problems for regulators than approval of a dangerous product. |
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Term
| True or False: Agencies approving new products (drugs) generally apply tests that are too restrictive from the viewpoint of consumer welfare. |
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Definition
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Term
| What does traditional economic regulation do? |
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Definition
| seeks to fix prices and/or influence entry into specific industries |
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Term
| During the 1970's widespread dissatisfaction with economic regulation led to what? |
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Definition
| significant deregulation in the trucking and airline industries. |
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Term
| What does deregulation usually result in? |
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Definition
| new entry, intense competition and discount prices. |
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Term
| what are Health and Safety Regulations designed to do? |
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Definition
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Term
| What do Health and Safety Regulations do? |
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Definition
| These mandates frequently specify in detail the engineering processes to be followed by the regulated firms and industries. |
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Term
| true or false: while traditional economic regulation is more common, health and safety regulation hasn't been growing. |
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Definition
| false: traditional is less common and health and safety is growing. |
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Term
| governmental regulation is much like what because why? |
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Definition
| a tax. because it increases costs and will lead to higher prices and reduces output. |
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Term
| What does the lack of information generate in regards to health and safety? |
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Definition
| lack of info generates much of the demand for health and safety regulation, also makes it difficult to evaluate the effectiveness of each regulatory activity. |
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Term
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Definition
| the system by which society ranks categories of people in a hierarchy |
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Term
| what does stratification produce? |
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Definition
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Term
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Definition
| categories of people who have similar access to resources and opportunities |
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Term
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Definition
| those families who fall within the top 10% of income distribution |
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Term
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Definition
| the level of annual income below which a person or family is defined as poor and thus entitled to government assisstance |
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Term
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Definition
| the difference between the official poverty line and the actual income of the typical poor household |
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Term
| What is the profile of the US poor? |
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Definition
1. children at the highest risk
2. african americans & hispanics
3. women
4. single mother's
5. the south and the west |
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Term
| What are the social problems linked with poverty? |
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Definition
1. poor health
2. substandard housing
3. limited schooling
4. crime and punishment |
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Term
| the link between poverty and health is evident from when? |
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Definition
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Term
| the infant mortality rate among the poor is what the national average and and among the poorest, is what the national average? |
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Definition
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Term
| What causes homelessness? |
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Definition
| low income coupled with available low-income housing. |
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Term
| due to the focus on street crime are the poor more likely to face acquittal, no trial and no conviction or imprisonment? |
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Definition
| no, the poor are more likely to face arrest, trial, conviction and prison. |
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Term
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Definition
| an organized effort by government,private organizations, or individuals to assist needy people defined as worthy of assistance. |
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Term
| What are the characteristics of large-government run welfare programs? |
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Definition
1. they direct money to specify categories of people
2. they benefit many people
3. they do not significantly change income inequality |
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Term
| When did changes in the welfare system begin to occur? |
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Definition
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Term
| what was the result of the changes to the welfare system? public opinion? |
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Definition
1. The welfare reform act of '96
2. divided opinion on whether people deserve help |
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Term
| What did the Welfare Reform Act of '96 replace? |
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Definition
| the federal AFDC program with Temporary Assistance for Needy Families (TANF) |
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Term
| What did the new rules of the Welfare Reform Act require? |
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Definition
1. able-bodied people receiving benefits to find a job or enroll for job retraining within two years.
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Term
| Can states set their own qualifications for the Welfare Reform Act? |
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Definition
| yes, but they must limit assistance to two consecutive years with a lifetime cap of five years. |
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Term
| What does the Welfare Reform Act direct all states to do? |
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Definition
| all states must move half of single parents receiving welfare into jobs or retraining by 2002 |
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Term
| What are the steps of the 2010 Health Care Reform? |
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Definition
1. you must have medical insurance
2. more health care jobs
3. kids can stay on your policy until age 26
4. insurance can't drop you
5. you can't be denied insurance
6. no maximum limit on coverage
7. no waiting time |
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Term
| What are the reasons for poverty? |
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Definition
1. marxist theory
2. Multicultural theory
3. Feminist theory
4. conservatives theory
5. liberal theory
6. radical theory |
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Term
| What is the marxist theory? |
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Definition
| the reason for poverty is a capitalist society |
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Term
| What is the Multicultural Theory? |
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Definition
| poverty, race and ethnicity play a role in poverty. poverty involves more than money: cultural capital |
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Term
| What is the feminist theory? |
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Definition
| poverty and patriarchy; sexism |
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Term
| What is the conservative theory? |
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Definition
| focus on personal responsibility, stressing the importance of self-reliance |
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Term
| What is the liberal theory? |
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Definition
| societal responsibility; view poverty as more structural than individual; look for societal solutions |
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Term
| what is the radical theory? |
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Definition
| change the system; poverty is inherent in capitalist society. |
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Term
| true or false: conservatives dismiss social welfare programs and tax plans advocated by liberals as little more than a band-aid applied to the body of a person with an incurable disease. |
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Definition
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Term
| true or false: liberals look for society solutions vs. personal solutions like conservatives. |
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Definition
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