5 Written questions
5 Matching questions
- Social Security Act of 1935
- Keynesian Economic Theory
- National Health Insurance
- a A compulsory insurance program for all Americans that would have the government finance citizens' medical care. First proposed by President Harry S. Truman, the plan was soundly opposed by the American Medical Association.
- b The theory emphasizing that government spending and deficits can help the economy weather its normal ups and downs. Proponents of this theory advocate using the power of government to stimulate the economy when it is lagging.
- c A program added to the Social Security system in 1965 that provides hospitalization insurance for the elderly and permits older Americans to purchase inexpensive coverage for doctor fees and other health expenses.
- d A fund created by Congress in 1980 to clean up hazardous waste sites. Money for the fund comes from taxing chemical products.
- e Created both the Social Security Program and a national assistance program for poor children, usually called AFDC.
5 Multiple choice questions
- As measured by the Bureau of Labor Statistics, the proportion of the labor force actively seeking work but unable to find jobs.
- the federal agency formed in 1913 and assigned the task of approving all food products and drugs sold in the United States. All drugs, with the exception of tobacco, must have their authorization.
- Economic policy of shielding an economy from imports.
- Organizations contracted by individuals or insurance companies to provide health care for a yearly fee. Such network health plans limit the choice of doctors and treatments; About 60 percent of Americans are enrolled in HMOs or similar programs.
- The main instrument for making monetary policy in the United States. It was created by Congress in 1913 to regulate the lending practices of banks and thus the money supply.
5 True/False questions
Environmental Protection Agency (EPA) → A report required by the National environmental policy act that specifies the likely environmental impact of a proposed action.
Fiscal Policy → the policy that describes the impact of the federal budget-taxes, spending, and borrowing-on the economy
Earned Income Tax Credit (EITC) → The "shares" of the national income earned by various groups.
Capitalism → An economic system in which individuals and corporations, not the government, own the principal means of production and seek profits.
Supply-Side Economics → an economic theory advocated by President Reagan holding that too much income goes to taxes so that too little money is available for purchasing and that the solution is to cut taxes and return purchasing power to consumers.