Studied by 66 people
17, 18 and 19
Public Policy
An international course of action or inaction followed by government in dealing with some problem or matter of concern.
Agenda
A set of issues to be discussed or given attention.
Systemic Agenda
A discussion agenda; it consists of all public issues that are viewed as requiring governmental attention.
Governmental (institutional) agenda
Problems to which public officials feel obliged to devote active and serious attention.
Agenda Setting
The constant process of forming the list of issues to be addressed by government.
Policy formulation
The crafting of proposed courses of action to resolve public problems.
Policy adoption
The approval of a policy proposal by the people with the requisite authority, such as a legislature.
Policy implementation
The process of carrying out public policy.
Policy evaluation
The process of determining whether a course of action is achieving its intended goals.
Medicare
The federal program established by Lyndon B. Johnson administration that provides medical care to elderly Social Security recipients.
Medicaid
A government program that subsidizes medical care for the poor.
No Child Left Behind Act (NCLB)
Education reform passed in 2002 that employs high standards and measurable goals as a method of improving American education.
Vouchers
Certificates issued by the government that may be applied toward the cost of attending private or other public schools.
Charter schools
Semi-public schools that have open admission but may also receive private donations to increase the quality of education.
Clear Air Act of 1970
The law that established national primary and secondary standards for air quality in the United States. A revised version was passed in 1990.
Global warming
The increase in global temperatures due to carbon emissions from burning fossil fuels such as coal and oil
Laissez-faire
A French term meaning “to allow to do, to leave alone.” It holds that active governmental involvement in the economy is wrong.
Business cycles
Fluctuations between periods of economic growth and recession, or periods of boom and bust.
Interventionist state
Alternative to the laissez-faire state; the government took an active role in guiding and regulating the private economy.
Economic regulation
Government regulation of business practices, industry rates, routes, or areas serviced by particular industries.
Social regulation
Government regulation of consumer protection, health and safety, and environmental protection.
Deregulation
A reduction in market controls (such as price fixing, subsidies, or controls on who can enter the field) in favor of market-based competition.
Fiscal policy
The deliberate use of the national government’s taxing and spending policies to maintain economic stability.
Gross domestic product (GDP)
The total market value of all goods and services produced in an area during a year.
Budget deficit
The economic condition that occurs when expenditures exceed revenues.
Inflation
A rise in the general price levels of an economy.
Monetary policy
A form of government regulation in which the nation’s money supply and interest rates are controlled.
Reserve requirements
Government requirements that a portion of member banks’ deposits be retained as backing for their loans.
Discount rate
The rate of interest at which the Federal Reserve Board lends money to member banks.
Open market operations
The buying and selling of government securities by the Federal Reserve Bank.
Social Security Act
A 1935 law that established old age insurance; assistance for the needy, aged, blind, and families with dependent children; and unemployment insurance.
Entitlement programs
Government benefits that all citizen meeting eligibility criteria- such as age, income level, or unemployment- are legally “entitled” to receive.
Non-means-tested programs
Programs that provide cash assistance to qualified beneficiaries, regardless of income. Among these are Social Security and unemployment insurance.
Mean-tested programs
Programs that require that beneficiaries have incomes below specified levels to be eligible for benefits. Among these are SSI, TANF, and SNAP.
Economic stability
A situation in which there is economic growth, rising national income, high employment, and steadiness in the general level of prices.
Recession
A decline in the economy that occurs as investment sags, production falls off, and unemployment increases.
Board of Governors
In the Federal Reserve System, a seven-member board that makes most economic decisions regarding interest rates and the supply of money
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