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Chapter 13
24 cards·by Alicia33
An intentional course of action or inaction followed by government in dealing with some
problem or matter of concern
Public Policy
A set of issues to be discussed or given attention
Agenda
A discussion agenda; consists of all public issues that are viewed as requiring governmental
attention
Systemic Agenda
Problem to which public officials feel obliged to devote active and serious attention
Governmental (Institutional) Agneda
The process of forming the list of issues to be addressed by government
Agenda Setting
The crafting of proposed courses of action to resolve public problem
Policy Formulation
The approval of a policy proposal by people with the requisite authority
Policy Adoption
The process of carrying out public policy
Policy Implementation
The process of determining whether a course of action is achieving its intended goals
Policy Evaluation
The federal program established that provides medical care to the elderly Social Security
recipients
Medicare
A government program that subsidizes medical care for the poor
Medicaid
A 1935 law established old age insurance; assistance for the needy, aged, blind, and families
with dependent children and unemployment insur
Social Security Act
Government benefits that all citizens meeting eligibility criteria are legally "entitled"
to recieve
Entitlement Programs
Programs that require the beneficiaries have income below specified levels to be eligible
for benefits
Means Test Programs
Te deliberate use of the national government's taxing and spending policies to maintain
economic stability
Fiscal Policy
The economic condition that occurs when expenditures exceed revenues
Budget Deficit
A rise in the general price levels of an economy
Inflation
A form of government regulation in which the nation's money supply and interest rates are
controlled
Monetary Policy
A 7 member board that makes most economic decisions regarding interest rates and the supply of
money
Board of Govenors
The buying and selling of government securities by the Federal Reserve Bank
Open Market Operations
The rate of interest at which the Federal Reserve Board lends money to member banks
Discount Rate
Government requirements that a portion of member banks deposits to be retained as backing for
their loans
Reserve Requirements
A situation in which there is economic growth, rising national income, high employment, and
steadiness in the general level of prices
Economic Stability
A decline in the economy that occurs as investment sags, production falls off, and
unemployment increases
Recession