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PSCI 2305 EXAM 3 UNT QUESTIONS AND ANSWERS (GRADED A)
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PSCI 2305 EXAM 3 UNT QUESTIONS AND ANSWERS
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PSCI 2305 EXAM 3 UNT QUESTIONSAND ANSWERS
fiscal policy - Answer -A tool of economic management by which government can
attempt to maintain a stable economy through its taxing and spending policies.
demand side economics - Answer -A form of fiscal policy that emphasizes "demand
(consumer spending)"
supply side economics - Answer -A form of fiscal policy that emphasizes "supply"
(production)
federal reserve - Answer --the country's central bank, which executes monetary policy
by manipulating the supply of funds that members
patrick leahy - Answer --senator of vermont
-concerned about human rights
-if their is a human rights stipulation you will not get money from the US
poverty line - Answer -The annual cost of a thrifty food budget for an urban family of four
means test - Answer -The requirement that applicants for public assistance must
demonstrate they are poor in order to be eligible for the assistance
in kind benefit - Answer -A government benefit that is a cash equivalent, such as food
stamps or rent vouchers. This form of benefit ensures that recipients will use public
assistance in a specified way.
stagflation - Answer -slow economic growth and high unemployment
entitlement programs - Answer -A gov program that guarantees certain benefits to a
particular group or segment of the population
laissez-faire - Answer -A classic economic philosophy holding that owners of business
should allowed to make their own production and distribution decisions without
government regulation or control (Hands off government)
unilateralism - Answer -A national policy of acting without consulting others (i.e., acting
alone)
, negative vs positive gov - Answer --negative; wants gov to be less involved
-positive; more involved
social insurance program - Answer --form of compensation provided and controlled by a
government for elderly, disabled, or the unemployed
-Social welfare programs are based on the "insurance" concept, requiring that
individuals pay into the program in order to be eligible to receive funds from it.
Examples include social security, Medicare, unemployment insurance
budget deficit - Answer -expenditures exceed revenue
balance of trade - Answer --export more than you import; positive surplus
-import more than you export; deficit
multilateralism - Answer -The situation in which nations act together in response to
problems and crises
monetary policy - Answer -A tool of economic management based on manipulation of
the amount of money in circulation.
progressive tax - Answer -A tax structured so that higher-income people pay a larger
proportion of their income in taxes than do lower income people
regressive tax - Answer -A tax structured so that low-income people pay a higher rate
sin tax - Answer -Tax on items the government doesn't want you to purchase (alcohol,
drugs, tobacco, etc)
value added tax - Answer --Taxes added at each stage of production as a good
becomes more valuable
-Rarely used in US, often seen in European countries
carlos castaño - Answer --leader of AUC
-paramilitary group
-supposed to be protecting drug farmers
-Fought against left wing guerrillas (FARC)
foreign policy powers - Answer -Framers want to restrict powers in legislative and
executive branches
subprime housing crisis - Answer -Occurred when banks sold too many mortgages to
feed the demand for mortgage-backed securities sold through the secondary market
drug legalization - Answer -Four main issues:
-Which drugs should be legal/decriminalized?
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