Ch 19,20 gov

eshapeesha's version from 2015-05-05 01:23


Question Answer
how was new deal paid forfica trust fund into which taxes were placed
entitlement programprograms that provide a specific set of benefits as a matter of riht to all who meet the criteria specified by law
whats bad about afdc, replaced by whatthought to create a permanent underclass, replaced by tanf
personal responsibilty and work opp act does whatreplace welfare with work, stats fund through government block grants
medicarenational insurance for elderly and disabld
medicaidfed program that provides med benefits for low income peple . this involves state and federal funding
fee for servicesystem of health care payment in which patients can choose own physician, whose bills are then covered by insurance companies
hmopeople or employers are charged a set amt for health care and hospital cost
single player reformnational government, using broad based taxes, covers the cost of health care and hospitalization and sets the rates.
prepaid heath planmanaged health care pans from health maintenance organizations. this gives patients more rights
northwest ordinance of 1785cngress sets aside 1 section p town for public schools
fiscal policytaxing and spending
monetary policycontrol of money supply and interest rates
individual income tax48% gov tax revenue
payroll receipts33.2%, highly regressive meaning lower income people pay a higher proprtion
corp income taxless than 10% tax rev
excise taxtaxes on luxury items, 4%
progressive taxpeopel w higher incomes pay a larger proprtion of their income
gdpgross domestic product, an estimate of the total output of all economic activity in the nation, inc goods and services
entitlement programsgov programs such as social securit, medicare, unemployment insurance to which qualified citizens are entitled by national legislation
budget processagencies propose budget to president, omb compares agencies plans w pres plan, pres submits budget to congress who approves, appropriates money, and checks how its spent. then gao does oversight hearings
congress derives budget power frombudget reform act
cboanalyzes presidents budget and est cost
tax expenditureloss of tax revenue bc of tax laws that give special incentives or benefits concerning taxes.
monetarisma theory that gov should control the money supply to encourage economic growth and restrain inflation
inflation caused by whatloose money policy by federal reserve board and too much defecit spending. when you intrduce more money there needs to be more goods in circulaiton
dumpingus sells goods really cheap to run others out of business so the trade defecit goes away and then they increas the price to make profit after
gattencourages free trade by lowering tariffs and other restrictions
naftalargest free trade zone in the world
econ regulationgov controls on behavior of business
social regulationgov attempts to correct a wide variety of side effects
trustmnopoly that controls goods and services, often reducing competition
interlocking directoratea corporation in which an officer or director sits on the board of a competitor with the effect of restraining trade
walsh healy act of 1936no worker employed under contracts with the national government be paid less than the prevailing wage, and be paid over time.
fair labor standards act of 1938set max work week of 40 hrs for a employees in interstate commerce. beyond that pay overtime
occupational safety and health act of 1970creates first comprehensive fed industrial safety program
yellow dog contracecant join union if employed
cosed shopunion membership is a condition of employment
union shopa company in which new employees must join a union within a stated time period
labor injunctiona court order frbidding certain people or groups from certain acts that the court considers harmful to the employer

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