1050 PSCI Chapters 18, 19, and 20 Government Final Exam Review
1. Distinguish between: (Simple Definition) Foreign and Domestic Policy -Education is a big one. Monetary and Fiscal Policy -Fiscal = Taxing and Revenue -Monetary = How the government regulates money through the economy. Progressive and Regressive Taxes 2. Define: Recession Downturn in an economy. A slowdown in the economic activity, officially defined as a decline that persists for two quarters (six months). Depression A MAJOR significance downturn in the economy. Business Cycle The alternation of periods of economic growth with periods of economic slowdown. Inflation When the cost of things goes up. A sustained rise in the price level such that people need more money to purchase the same amount of goods and service. Deficit - Spending money that you don't have. The government can do this (US) because the US has good creditors. Our economy can support it. We have good foundation. The amount by which annual spending exceeds revenue. Deflation When the cost of things goes down. Opposite of inflation. Federal Reserve Board 12 Banks Its Current Chief Responsible for the monetary policy. They determine weather we need to raise or lower the interest rates based on the economy. The Current Chief is Benjamin Bernanke (SP?) Know that there are 12 (Twelve) banks. Social Policy Domestic policy that does good. Like education. Dealing with issues like Medicare. Domestic policy programs designed to help those thought to be in need of government assistance. Art. 1, Sec. 8 Article one means the legislative branch (congress). They have the power to declare war. 1973?? War Powers Act / Resolution - 1973 congressional resolution requiring the president to notify Congress formally upon ordering U.S. troops into military action.
PSCI 1050 Chapters 18, 19, and 20 Sin Taxes Taxing things that are thought to be bad for you. Social Behavior. A tax intended to discourage unwanted behavior. Secretary of Defense He is a civilian. He is in charge of the entire military. He is NOT in the military. He is just a civilian. The president's chief civilian adviser on defense matters and overall head of the army, navy, and air force. Secretary of State The head of the department of defense and the state department. Officially, the president's chief foreign policy advisor and head of the department of state, the agency responsible for conducting diplomatic relations. Joint Chiefs of Staff The heads of the service branches. They are active duty military. They have to determine how to use the military in the military is decided to be used to resolve a problem. They are confirmed by the senate. They make big decisions. Tax Bade Things that the government uses to base the taxes one. EX: Income Tax, how old someone is. This to has change over time. Types of activities, types of property, or kinds of investments that are subject to taxation. Deregulation When the government gets in the business with the things that they feel necessary. Like the airline companies and energy companies. Removal of government rules that once controlled an industry. CIA (Central Intelligence Agency) Agency primarily responsible for gathering and analyzing information about the political and military activities of other nations. United Nations Organization of all nation-states, whose purpose is to preserve world peace and foster economic and social development throughout the world. Keynesianism Economic policy based on the belief that governments can control the economy by manipulating demand, running deficits to expand it, and surpluses to contract it. Executive Agreements Foreign policy. The president had the power to do this. Agreement with foreign countries that requires only a presidential signature. GDP Gross Domestic Product The measure of the total value of economic activity in a nation in one year.
PSCI 1050 Chapters 18, 19, and 20 3. Understand: 1. The police making cycle: Agenda Setting - Making an issue so visible that important political leader take it seriously. Policy Deliberation Debate and discussion by groups and political leaders over issues placed on the policy agenda. Policy Enactment Passage of a law by public officials. Policy Implementation Translation of legislation into a set of government programs or regulations. Policy Output Provision of services to citizens or regulation of their conduct. Policy Outcome Effect of policy outputs on individuals and businesses. 2. The role of the president in foreign policy, public support and memory, and his relationship with congress. Although the president plays the dominate role in the making of foreign policy, the constitution gives clear responsibilities to Congress as well. He has the ability to declare war due to the fact that he is commander and chief of the armies, he should know that Congress can over-power him at any time. 3. What is the president's role as commander in chief? Which president greatly expanded the role? Abraham Lincoln was the first president to take action based on an expanded interpretation of the role of commander in chief. The president has the ability to declare war and order the troops to do what he wants them to do. 4. What is the major source of federal revenue? What is the largest expense? The major source for federal revenue is us through paying taxes. Our largest expense is programs such as Medicare and Medicade. 5. What are some of the major tensions in domestic spending? How might these issues be disproportionately supported. 6. The theory of interest rate adjustments and the economy.