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Ch.14 Assignment - Define the following terms 1 2 3 4 5 6 7...

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Define the following terms. 1. public policy A general plan of action adopted by the government to solve a social problem, counter a threat, or pursue an objective. 2. distributive policies Government policies designed to confer a benefit on a particular institution or group. 3. redistributional policies Policies that take government resources, such as tax funds, from one sector of society and transfer them to another. 4. regulation Rules that guide the operation of government programs and business markets. When regulations apply to business markets, they are an attempt to structure the operations of that market in a particular way. 5. agenda setting The stage of the policymaking process during which problems get defined as political issues such that government is actively working to solve them. 6. policy formulation The stage of the policy-making process during which formal proposals are developed and adopted. 7. implementation The process of putting specific policies into operation. 8. policy evaluation Analysis of a public policy so as to determine how well it is working. 9. feedback Information received by policy-makers about the effectiveness of public policy. 10. fragmentation In policymaking, the phenomenon of attacking a single problem in different and sometimes competing ways. 11. issue network A shared-knowledge group consisting of representatives of various interests involved in some particular aspect of public policy. 12. Keynesian theory An economic theory stating that the government can stabilize the economy – that is, can smooth business cycles-by controlling the level of aggregate demand, and that the level of aggregate demand can be controlled by means of fiscal and monetary policies. 13. fiscal policies Economic policies that involve government spending and taxing. 14. monetary policies Economic policies that involve control of, and changes in, the supply of money. 15. inflation An economic condition characterized by price increases linked to a decrease in the value of currency. 16. deficit financing The Keynesian technique of spending beyond government income to combat an economic slump. Its purpose is to inject extra money into the economy to stimulate aggregate demand. 17. Council of Economic Advisers (CEA) A group that works within the executive branch to provide advice on maintaining a stable economy.
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