American Government

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Author:
rbaron
ID:
246587
Filename:
American Government
Updated:
2013-11-12 18:12:33
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Chapter 14
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Description:
Public Policy and Economics
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  1. ________ _________ is French for "leave things alone." It is a belief the government should not interfere in the workings of the economy.
    laissez-faire
  2. The belief that government should protect American business and industry by restricting the flow of foreign goods into the U.S. is called
    protectionism
  3. The ________ __ __________ _______ _____ is the Executive Office agency that provide s the president with budgetary information
    Office of Management and Budget (OMB)
  4. Monetary policy is government decisions about how much ______ should circulate and what the interest rate should be.
    money
  5. ______ is the sum of the deficits of prior years.
    debt
  6. Government programs in which spending automatically increases without any action by the Congress are called
    mandatory programs
  7. The president has the power to _____ budget bills passed by Congress
    veto
  8. _________ is the congressional enactment that funds an authorized program with a specific sum of money.
    appropriation
  9. The ______ _______ amendment is a proposed amendment to the Constitution that would require the federal government to operate with a budget in which revenues equaled or exceeded expenditures.
    balanced budget
  10. Socialism is the belief that government should not interfere in the workings of the economy
    F
  11. Free-trade is the belief that American interests are better served by allowing foreign producers to sell their goods without restriction
    T
  12. Fiscal policy is governmental decisions about taxing and spending that affect the economic life of a nation
    T
  13. Monetary policy is government decisions about how much money should circulate and what the interest rate should be
    T
  14. The Federal Reserve shapes the economy by submitting a budget proposal to the Congress for approval
    F
  15. Social Security, Medicare, and food stamps are all examples of payments for individuals
    T
  16. Incrementalism is a model of decision-making that holds that new policies differ substantially from existing policies
    F
  17. Line-item veto would give the president the power to accept some items in a bill and reject other items in the same bill.
    T
  18. Congress can either use authorization or appropriation in allowing funds to be spent
    F
  19. Gramm-Rudman-Hollings mandated sequestration to achieve a balanced budget by 1991
    T
  20. Which of the following best describes laissez-faire in government?
    A.  Government should take an active role in stabilizing the economy.
    B.  Government should not interfere in the workings of the economy.
    C.  Government should interfere in foreign as well as domestic economics.
    D.  Government should take a complete control in economic decisions.
    B.  Government should not interfere in the workings of the economy.
    (this multiple choice question has been scrambled)
  21. When did government involvement in the economy increase dramatically?
    A.  The line-item veto was first utalized by President Clinton
    B.  The establishment of the Congressional Budget Office (CBO)
    C.  Ratification of the Gramm-Rudman-Hollings Act
    D.  New deal and Great Depression
    D.  New deal and Great Depression
    (this multiple choice question has been scrambled)
  22. Protectionism is the belief that the government should protect
    A.  the economic decision maing by manipulating the information presented to the Congress and nation
    B.  American business and industry by manipulating the money supply and interest rates
    C.  American business and industry by restricting the flow of foreign goods into the U.S.
    D.  all economic decision making by placing the decisions completly under the control of the government
    C.  American business and industry by restricting the flow of foreign goods into the U.S.
    (this multiple choice question has been scrambled)
  23. The Fiscal Policy of the government entails
    A.  the submission of governmental budgets on a 12 month time frame starting with October 1 and ending on September 30
    B.  manipulating the money supply and interest rate
    C.  decisions about taxing and spending that affect the economic life of a nation
    D.  excesses in government revenues over government expenditures
    C.  decisions about taxing and spending that affect the economic life of a nation
    (this multiple choice question has been scrambled)
  24. Monetary Policy is government decisions about
    A.  allowing foreign producers to sell their goods without restriction
    B.  how much money should circulate and what the interest rate should be
    C.  taxing and spending that affect the economic life of a nation
    D.  enticing individuals and private companies to stimulate the economy
    B.  how much money should circulate and what the interest rate should be
    (this multiple choice question has been scrambled)
  25. Deficit is an excess of governent
    A.  expenditures on national defense
    B.  expenditures over revenues
    C.  revenues over expenditures
    D.  expenditures on Social Security
    B.  expenditures over revenues
    (this multiple choice question has been scrambled)
  26. The following are all examples of major components of the national budget except
    A.  interest costs
    B.  national defense
    C.  economic development
    D.  payment for individuals
    C.  economic development
    (this multiple choice question has been scrambled)
  27. Mandatory programs are government programs in which
    A.  spending is restricted to Congressional mandated programs
    B.  spending automatically increases without and action by the Congress
    C.  individual state participation is mandated by federal law
    D.  spending is restricted to only programs mandated by federal law
    B.  spending automatically increases without and action by the Congress
    (this multiple choice question has been scrambled)
  28. The single most important person in the budget making process is the  _______
    A.  the president
    B.  chairman of the Federal Reserce
    C. Chief Justice of the Supreme  Court.
    D.  chairman of the Congressional Budget Office
    A.  the president
    (this multiple choice question has been scrambled)
  29. The following are all examples of attempts to control the national debt except
    A.  balanced budget amendment
    B.  line-item veto
    C.  socialism
    D.  Gramm-Rudman-Hollings
    C.  socialism
    (this multiple choice question has been scrambled)

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