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Governement
study cards
41
History
Undergraduate 1
04/07/2010

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Cards

Term
fiscal policy
Definition
govn. policy that attempted to manage the economy by controlling taxing and spending.
Term
monetary policy
Definition
govn. policy that attempts to manage the economy by controlling the money supply and thus interest rates.
Term
tariff
Definition
the tax levied on imports to help protect a nation's industries, labor or farmers from foreign competition.
Term
office management and budget
Definition
the presidential staff agency that serves as a clearinghouse for budgetary requests and management improvements for govn. agencies
Term
congressional budget office
Definition
an agency of tax revenue due to federal laws that provide special tax incentives or benefits to individuals or businesses.
Term
tax expenditure
Definition
a loss of tax revenue due to federal laws that provide special tax incentives or benefits to individuals or businesses
Term
value-added tax
Definition
a tax on increased value of a product at each stage of production and distribution and distribution rather than just at the point of sale.
Term
federal funds rate
Definition
the amount of interest a bank charge for loans to each other.
Term
laissez-faire economics
Definition
a theory that opposes governmental interference in economic affairs beyond what is necessary to protect life and property.
Term

keynesian economics

 

Definition
an economic theory based on the principles of John Maynard Keynes stating that govn. spending should increase during business slumps and be curbed during booms.
Term
trade deficit
Definition
an imbalance in international trade in which the value of imports exceeds the value of exports
Term
monopoly
Definition
domination of an industry by a single company
Term
antitrust legislation
Definition
federal laws that try to prevent a monopoly from dominating an industry and restraining trade.
Term
closed shop
Definition
a company with a labor agreement under which union membership is a condition of employment
Term
union shop
Definition
a company in which new employees must join a union within a stated period.
Term
labor injunction
Definition
a court order forbidding specific individuals or groups from performing certain acts that the court considers harmful to the rights and property of an employer or a community
Term
collective bargaining
Definition
a method whereby representatives of the union and employer determine wages, hours, and other conditions of employment through direct negotiation
Term
environmental impact statement
Definition
a statement requried by federal law from all agencies for any project using federal funds to assess the potential effect of the new construction or development on the environment
Term
corporate social responsibility
Definition
efforts by corporations to improve their reprutation by paying attention to their contributions to the social good
Term
deregulation
Definition
a policy promoting cutbacks in the amount of federal regulation in specific areas of economic activity
Term
Entitlements
Definition
programs such as unemployment insurance, disaster relief, or disability payments that provide benefits to all eligible citizen
Term
means-tested entitlements
Definition
programs such as Medicaid and welfare under which applicants must meet eligibility requirements based on needs
Term
social safety net
Definition
the many programs that the federal govn. provides to protect Americans against economic and social misfortune.
Term
social insurance
Definition
programs in which eligibility is based on prior contributions to government, usually in the form of payroll taxes.
Term
health maintenance organization
Definition
an alternative means of health care in which people or their employers are charged a set amount and the HMO provides health care and covers hospital costs
Term
medical savings acct.
Definition
an alternative means of health care in which individuals make tax-deductable contributions to a special acct. that can be used to pay medical expenses.
Term
realism
Definition

a theory of international relations that focuses on the tendency of nations to operate from self-interest

 

Term
idealism
Definition
a theory of international relations that focuses on the hope that nations will act together to solve international problems and promote peace
Term
isolationism
Definition
the desire to avoid international engagement altogether
Term
internationalism
Definition
the belief that nations must engage in international problem solving
Term
unilateralism
Definition
a philosophy that encourages individual nations to act on their own when facing threats from the nations
Term
Bush Doctrine
Definition
a policy adopted by the Bush administration in 01' that asserts American's right to attack any nation that has weapons of mass destruction that may be used against the US interests at home or abroad.
Term
multilateralism
Definition
a philosophy that encourages indivduals nations to act together to solve international problems.
Term
preemption
Definition
a policy of taking action before the US is attacked rather than waiting for provocation
Term
hard power
Definition
reliance of economics and military strength to solve international problems.
Term
soft power
Definition
reliance on diplomacy and negotiation to solve international problems.
Term
theory of deterrence
Definition
a theory that is based on creating enough military strength to persuade other nations not to attack first.
Term
normal trade relations
Definition
trade status granted as part of an international trade policy that gives a nation the same favorable trade concessions and tariffs that the best trading partners receive.
Term
economic sanctions
Definition
denial of export, import, or financial relations with a target country in an effort to change that nation's policies
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