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gov final exam
Terms in this set (18)
what is the role of the precedent in our legal system?
a judicial decision that serves as a rule for settling subsequent cases of similar nature
why is the written opinion of a supreme court decision so important?
it provides legal reasoning to support the decision of the court
what does it mean that congress has the power of the purse?
means congress has the ability to tax and spend public money for the national gov
who in out society pays for the benefits today's recipients of social security and medicare?
what is monetary policy? what branch/agency of gov is responsible for monetary policy?
the actions of central banks to achieve economic policy objectives such as price stability. congress and federal reserve are responsible
how does the fdic protect the money in your checking account?
by insuring 250,000 per depositor that way if a bank fails the fdic will step in so the individuals holding money in the bank do not lose it all
what is the difference between regressive and progressive tax? (who is most affected by each kind of tax?) give an example of each.
P=tax whose rate increases as the payers income increases. impacts higher-income individuals. ex, property tax
R=tax whose rate increases as the payers income decreases. impacts low-income individuals. ex, social security tax
the economist John Maynard Keynes recommends that government should follow a policy of pump priming in order to stimulate a slow economy. what does this mean?
government intervention within the economy, aimed at increasing the demands for goods and services can result in a positive shift within the economy
what is a social insurance program? give an example.
a set of insurance programs administered by the government. ex, medicare benefits
what is NATO? (what do the initials stand for, what is its purpose?)
originally formed to provide security against the threat posed by the soviet union. 29 nations are members of the alliance to provide protection (military) and support (political and legal) to the allies. stands for north atlantic treaty organization
what is the GAO? (what do the initials stand for, what is its purpose?)
stands for government accountability office, works for congress, examines how taxpayer dollars are spent and provides congress and federal agencies with objective, reliable info to help gov save money and work more efficiently
what does it mean that our civil service is based on merit?
the process of promoting and hiring government employees based on their ability to preform a job rather than on their political connections
what does it mean that we have a mixed economy?
we combine aspects of both capitalism and socialism. allows for level of economic freedom but allows for gov to interfere in economic activities in order to achieve social aims
in our legal system, what is the difference between original jurisdiction and appellate jurisdiction?
O=court has the right to hear the case first
A=court hears an appeal from a court of original jurisdiction (higher court hears appeals from lower court)
what are the OMB and CBO? what do the initials stand for, which branch of gov does each work for? what are their respective roles in the budget policy?
omb= office of management and budget, works for executive branch, prepares presidents budget proposals to congress
cbo= congressional budget office, works for legislative branch, produces independent analyses of budgetary and economic issues to support the congressional budget process
what is a social assistant program and who qualifies for it? give an example.
gov programs that provide minimum level income support to individuals and households living in poverty
what is fiscal policy? what branch/agency of gov is responsible for fiscal policy?
measures employed by gov to stabilize the economy by manipulation the levels of taxes and gov expenses, executive branch is responsible
what are the "baby boomers" and why are they so significant in the discussion about social security? there are many steps congress could take to put social security on a sounder long-term footing. give two examples.
person born between 1946 and 1964, population of people over 65 will be too massive for the gov to pay them all. solutions would be to raise taxes or raise the eligibility age for getting social security check
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