Term
| What are the two types of economic policy |
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Definition
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Term
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Definition
| The taxing and spending decisions enacted by Congress in cooperation with the president. |
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Term
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Definition
money supply and demand
managed by Federal Reserve Board
Federal Reserve Board: independent and non-partisan
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Term
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Definition
| 1. inflation 2. unemployment 3. gross domestic product 4. the balance of trade 5. the budget deficit (or surplus) |
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Definition
The rate at which prices increase
Too many dollars chasing too few goods |
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Term
| what is the unemployment rate |
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Definition
| percentage of Americans who are out of work. |
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Term
| what is gross domestic product |
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Definition
the value of all the goods and services produced in the United States.
(GDP measures the size of the American economy |
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Term
| what is the balance of trade |
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Definition
difference between imports and exports.
A positive balance means that a nation has a trade surplus, it exports more goods than it imports.
A negative balance of trade means a trade deficit, the country imports more goods than it exports. |
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Term
| what is the budget deficit |
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Definition
government spending exceeds government revenue.
The net sum of the budget deficit minus the surplus is the national debt, or the amount that the government owes. |
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Term
| What is the inflation rate measured by |
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Definition
Consumer price index
Computed by the department of labor
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Term
| what is the ideal unemployment rate |
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Definition
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Term
| Who are the fiscal policy players |
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Definition
Congress
the president
Congressional budget office
council of economic advisers
office of management and budget (pre 1974) |
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Term
| what percentage of income taxes is paid by the bottom 20% |
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Definition
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Term
| what percentage of income taxes is paid by the top 10% |
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Definition
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Term
| which taxes fund social security and medicare |
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Definition
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Term
| what is the measurement for the inflation rate |
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Definition
consumer price index (CPI),
computed by the Department of Labor.
The CPI is calculated at regular intervals, and is based on the changing costs of a specified "market basket" of goods and services. |
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Term
| what was the impoundment economic policy used by Richard Nixon |
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Definition
| if Nixon opposed a program that had been passed and funded by Congress, the president would simply order his secretary of the treasury to "impound" the funds - in other words, to not spend them. By cutting off the money, Nixon could effectively kill a program even if he didn't have the votes to have his veto sustained. |
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Term
| what is the historical foundation for economical policy |
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Definition
| many political scientists consider the Constitution to be primarily an economic document and believe that its intention was to solidify the foundation of our capitalistic society and protect the rights of property owners. |
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Term
| What is a progressive tax |
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Definition
| the more money you make, the higher the percentage you pay in taxes, up to a top rate of 35 percent. The federal income tax is a progressive tax |
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Term
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Definition
| a tax structured such that higher-income individuals pay a lower percentage of their income in taxes. Social Security tax is a regreassive tax |
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Term
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Definition
people who believe that the United States has a special role to play in world politics
unilateral use of force
value-based foreign policy.
Could lead to a backlash of groups less supportive of U.S. policies
Iraq war:
would need true international alliance for economic reasons.
Essential for National Security.
Promote democracy abroad. |
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Term
| Which Federal Agency deals with foreign policy |
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Definition
National Security council
State Dept |
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Term
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Definition
| A decisive use of American military only when there is clear support for the use of force and an exit strategy is in place |
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Term
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Definition
| Limited and graduated use of military force is permissible when there is a recognized problem demanding a military response, with or without public support |
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Definition
nation's economic interests are best served through open markets.
trade barriers should be dismantled
flow of goods, capital, and labor should be as unrestricted as possible |
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Definition
Protect American jobs and businesses from foreign competition
main goal of trade policy should be to protect domestic producers and workers from foreign competition |
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Term
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Definition
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Term
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Definition
| Further efforts by European nations to colonize land or interfere with states in north or South America would be viewed as acts of aggression requiring U.S. intervention. The United States would neither interfere with existing European Colonies nor meddle in the internal concerns of European countries. |
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Term
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Definition
Safety net for most vulnerable members of society
Earned income credit
Child tax credit
Supplemental security income
Unemployment compensation
Food stamps
The government should provide a safety net for the most vulnerable members of society. The largest components of the income security program are the earned income credit, the child tax credit, supplemental security income, unemployment compensation, and food stamps |
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Term
| Who is notable for foreign policy in George W bush's first term in office |
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Definition
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Term
| Unincorporated communities |
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Definition
Counties that are not incorporated as cities for various reasons- lack of political will or interest, a limited resource or tax base, geographic remoteness, or under development.
In California one in five people live in unincorporated areas
Page 802 |
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Term
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Definition
Incorporated or independent cities that contract with counties for the provision of major municipal services
Page 802 |
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Term
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Definition
| A county's right to tailor is local charter to its needs and interests |
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Term
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Definition
Official responsible for providing the board of supervisors with reports and information and for managing the day to day operations of county government
Page 804 |
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Term
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Definition
state gov't
property tax allocations
the Federal gov't
business and corporate taxes
variety of fees, other taxes, and interest on deposits and investments
Page 806 |
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Term
| Why did Toyota build their plants in Canada instead of the United States |
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Definition
| Although several U.S. states offered more lucrative tax packages both the national government and several provincial governments and Canada offered money for worker training; in addition, the Canadian System of universal Health Care would allow Toyota to save on the cost of Health Care benefits |
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Term
| California legislative big five |
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Definition
The big five key players: the governor two from the senate and two from the assembly
In 1990 Governor George Deukmejian called together the four party leaders from both chambers of Congress to resolve budgetary issues that were preventing passage of the state budget ever sense the so called big five have been a sort of court of last resort hammering out a new resolve budgetary issues. |
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Term
| California budget and 2/3 rule |
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Definition
Requires 2/3 each house to pass
Since 1990 term limits and partisanship have delayed budget almost every year
Gives minority party equal voice
California is one of the few states in the union that require 2/3 members and each house of the state legislature to approve the budget. For most of California's legislative history, this constitutional rule was a mere formality, but starting in the 1990s for various reasons, including term limits and increasing partisanship in the state legislature, this requirement has caused passage of the budget to be delayed almost every year. One of the biggest problems with the 2/3 rule is that it effectively gives the minority party an equal voice in crafting the budget in the legislature if the majority party lacks a 2/3 majority in both chambers. Page 849 |
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Term
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Definition
| The governor is required by California law to submit a spending plan, known as the executive budget plan, to the state legislature by January 10, nearly six months before the fiscal year officially ends on June 30. In reality the development of the state budget begins six months before the January deadline, when the heads of state departments and agencies submit their budget requests to the California Dept of finance for review and gradually make budget recommendations to the governor. Because the California State gov't, like most governments, operates on a pay as you go system and really does not know how much revenue, especially in taxes, it will take in until the end of the fiscal year, the projections made by the department of finance regarding future revenue are very important to the governor in devising a new budget plan. Once these projections have been made and the budgets of individual state governmental organizations have been analyzed, the governor is free to authorize the final bill. Page 848 |
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Term
| Legislative analyst's office |
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Definition
LAO-nonpartisan-provides analysis
The office responsible for analyzing the California State budget and making recommendations to the state legislature regarding the fiscal deficiency of state gov't. The LAO is overseen by the 16 member, bipartisan joint legislative budget committee and has a staff of all 43 analysts and approximately 13 support staff. |
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Term
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Definition
| California law requiring that 40% of the state general fund be reserved for education. |
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Term
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Definition
| Speaks to communities which are unable to fulfill services to the residents. Provides service to two or more communities |
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Term
| Going from unincorporated to incorporated |
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Definition
| Petition and vote. Or resolution through board of supervisors |
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Term
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Definition
See potential for cooperation through institutions (NATO etc.)
1. Spread democracy to further U.S. interests.
2. Do so without military
3. Long-term cooperation and support
Iraq war-would go for sanctions Human rights concerns. Any unilateral action would be disruptive |
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Term
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Definition
Diplomacy and economic aid are no substitute for military power; American National interests take priority over global interests International System is threat to national interests.
1. Us should be prepared to act militarily
2. U.S. interests superior to global interests
3. Shared alliances will provide for legitimacy |
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Term
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Definition
Major threats to U.S. Security come from overactive foreign policy.
Foreign policy should be to protect American lives, property, territory and system.
Alliances of minimal importance.
Should contribute economically and culturally to the world |
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Term
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Definition
| Decides revenue and expenditures for California |
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Term
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Definition
Elections
Lobbying
Court
Grassroots
Cultural change |
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Term
| Pathways for foreign policy |
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Definition
Public opinion
Elections
Interest groups
Political protest |
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