Chapter 16 – Economic Policy



Chapter 18 – Economic Policy

|1. |Fiscal policy |16. |Milton Friedman |32. |Arthur Laffer |

|2. |Budget deficit |17. |Inflation |33. |Reaganomics |

|3. |budget surplus |18. |Recession |34. |Incrementalism |

|4. |Monetary policy |19. |Keynesianism |35. |Discount Rate |

|5. |Fiscal Year (FY) |20. |John Maynard Keynes |36. |Reserve Requirements |

|6. |Council of Economic Advisers (CEA) |21. |Economic planning |37. |Substitutability |

|7. |The Federal Reserve |22. |Price and wage controls |38. |Sequesters |

|8. |Monetarism |23. |Supply-side theory |39. |Budget Resolution |

|9. |Progressive tax |24. |Mandatory or uncontrollable expenditures |40. |Continuing Resolutions |

|10. |Flat tax |25. |Office of Management and Budget (OMB) |41. |Omnibus spending bills |

|11. |national debt |26. |House Ways and Means Committee |42. |Gramm-Rudman-Hollings (1985) |

|12. |Indexing |27. |Congressional Budget Office (CBO) |43. |Budget resolution |

|13. |Tax Reform Act of 1986 |28. |Appropriations Committee |44. |Reconciliation |

|14. |Clinton tax plan (1993) |29. |General Accounting Office (GAO) |45. |Authorization bill |

|15. |Gross domestic Product (GDP) |30. |Budget and Accounting Act (1921) |46. |Appropriations bill |

Chapter 18 –Economic Policy

|1. |Summarize how economics affects politics and how politicians respond. |

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|2. |How do two kinds of majoritarian politics complicate the politics of taxing and spending? |

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|3. |Summarize the following economic theories: Monetarism, Keynesianism, supply-side, Reaganomics. |

|4. |Summarize the role of the CEA, OMB and Secretary of the Treasury. |

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|5. |What are entitlements? What impact do they have on the federal budget? |

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|6. |How did the Congressional Budget Act of 1974 change the budget process? In your answer indicate how the budget process is supposed to work. |

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|7. |What was in the Gramm-Rudman Act or Balanced Budget Act of 1985? Define sequester. What strategy was adopted when sequestration didn’t work? |

|8. |Define gross domestic product, recession, fiscal policy, discretionary spending, mandatory spending |

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|9. |How did the Budget Enforcement Act of 1990 reform the process? |

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|10. |Define tax loopholes, progressive tax, marginal rate, regressive tax, sin taxes, flat tax, capital-gains tax. |

Chapter 19: Social Welfare

|1. |Means test |5. |Medicaid |10. |Welfare Reform law (1996) |

|2. |Means tested |6. |Food Stamps |11. |insurance program |

|3. |Social Security Act (1935) |7. |Aid to Families with Dependent Children |12. |assistance program |

| | | |(AFDC) | | |

|4. |Medicare |8. |Earned Income Tax Credit |13. |service strategy |

| | |9. |Temporary Assistance for Needy Families | 14. |income strategy |

| | | |(TANF) | | |

Chapter 19: Social Welfare

|1. |What does it mean to have a “means test” for a program? |

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|2. |What is the political difference between programs like Social Security or Medicare and Aid to Families with Dependent Children that make the |

| |latter easier to reform? |

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|3. |How do the distinctive factors of social welfare programs in the U.S. affect the programs that we have developed? |

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|4. |Study the yellow chart on p. 483 and differentiate between Medicare, Unemployment Insurance, TANF, Food Stamps, Medicaid, and the Earned |

| |Income Tax Credit. |

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|5. |What are the three possible solutions for reforming Social Security? |

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|6. |What were the problems with Medicare and what are the possible solutions? |

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|7. |How was welfare (AFDC) reformed in 1996? Why was it possible to pass this reform? Explain the major differences between AFDC and TANF. |

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Chapter 20: Foreign Policy

pp. 530-545

|1. |Legislative veto |7. |Iran-contra |13. |Containment |

|2. |War Powers Act (1973) |8. |Central Intelligence Agency |14. |Domino theory |

|3. |Senate Foreign relations Committee |9. |Isolationist |15. |Munich |

|4. |Boland Amendment |10. |Internationalist |16. |Appeasement |

|5. |National Security Council |11. |“rally around the flag” effect |17. |Disengagement |

|6. |National Security Adviser |12. |Iron Curtain and the Cold War |18. |Human rights |

|Chapter 20 : Foreign Policy |

|1. |Carefully detail how the roles of the President and Congress change according to what type of foreign policy issue is involved. |

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|2. |On pp 555 – 560, the book talks about the extent and limits of presidential power. This should be a review to you from the unit on the |

| |Presidency. Outline the powers that the president has in foreign policy plus the checks on presidential power. Be sure to stress the limits |

| |of those checks. |

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|3. |What are the limits on the ability of the Secretary of State to direct foreign policy? |

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|4. |What is the role of the NSC? Who makes up this group and why is it so influential? |

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|5. |Summarize the information about the interplay of public opinion and foreign policy. What is the “rally around the flag” effect? |

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|6. |Summarize the four world views discussed in the book. |

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Chapter 20: Military Policy

pp. 545-557

|1. |Military-industrial complex |7. |Intercontinental ballistic missiles |13. |Readiness |

| | | |(ICBMS) | | |

|2. |“Peace dividend” |8. |Mutual assured destruction (MAD) |14. |Commission on Base Realignment and closure |

| | | | | |(BRAC) |

|3. |“World’s policeman” |9. |“Don ask, don’t tell” |15. |National Security Act (1947) |

|4. |Joint Chiefs of Staff (JCS) |10. |Cost overruns |16. |Chain of Command |

|5. |Armed Services Committees |11. |Gold plating |17. |Goldwater-Nichols Act (1986) |

|6. |Strategic defense Initiative (SDI) or |12. |Bipolar World |18. |Unipolar World |

| |“Star Wars” | | | | |

Chapter 20: Military Policy

|1. |What does the phrase “the military-industrial complex” refer to? Give a specific example. |

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|2. |What factors influence the growth or decline of the defense budget? |

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|3. |What are the five explanations the book gives for cost overruns on big-ticket items in the defense budget? |

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|4. |What is the explanation for expensive small-ticket items? |

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|5. |Why was readiness given the lowest priority in budgeting? |

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|6. |What solution did Congress adopt for base closings? |

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|7. |What is the structure of the command in the Department of Defense? The book talks about the 1986 reorganization, the Goldwater-Nichols Act |

| |and how it reorganized the Joint Chiefs of Staff. Summarize that information. |

Chapter 21: Environmental Policy

|1. |Clean Air Act (1963) |9. |Kyoto Protocol |17. |Rachel Carson’s Silent Spring |

|2. |Auto emission standards |10. |Smog |18. |DDT |

|3. |Environmental Protection Agency (EPA) |11. |Toxic Waste |19. |Love Canal |

| |(1970) | | | | |

|4. |Water Quality Improvement Act (1970) |12. |Acid Rain |20. |The Superfund |

|5. |Endangered Species Act (1973) |13. |Environmental impact statement (EIS) |21. |Command-and-control strategy |

|6. |global warming |14. |Clean Water Act (1977, 1987) |22. |Offsets |

|7. |National Environmental Policy Act |15. |Clean Water Acts |23. |Bubble Standards |

| |(NEPA) | | | | |

|8. |Earth Day |16. |Scrubbers |24. |Pollution allowances or banks |

Chapter 21: Environmental Policy

|1. |Why is environmental policy so controversial? Explain the differing views and the science behind them. |

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|2. |How does environmental policy in the United States differ from other countries? Give relevant examples. |

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|3. |The book gives examples of how environmental issues illustrate al four styles of policy-making. From p. 587 -596, detail how environmental |

| |politics represents entrepreneurial, majoritarian, interest group, and client politics. Explain the interplay of different forces on |

| |policy-making. |

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| |Discuss how the perceived costs of a policy impact public acceptance of that policy. |

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| |Debate whether environmental laws go far enough or too far. What is the merit of each of these laws and subsequent amendments? |

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