Exam 13: Introduction to Public Policy

A voluntary agreement between two or more private persons that governs future conduct is called:

If there were no Social Security,half of all senior citizens would be living below the poverty line.

What is the first feature inherent in the very idea of government?

Social Security is an example of a ________ program.

Under the current Medicare system,the national government exercises very tight control over the quality of the services and the level of fees that health care providers charge.

The gross domestic product (GDP)is the market value of the goods and services produced in the economy.

The amount the government is permitted to borrow is also referred to as:

An increase in the federal funds rate would:

The amount of liquid assets and ready cash that banks are required to hold to meet depositors' demands for their money is called the:

Categorical grants-in-aid that funded a 900,000-mile national highway system indirectly promoted business because:

After the 1996 Personal Responsibility and Work Opportunity Reconciliation Act was enacted,the number of families receiving assistance dropped by over half nationwide.

The government's use of taxing and spending powers to manipulate the economy is called monetary policy.

An effective market economy requires government rules for the enforcement of contracts.

Explain why welfare caseloads have dropped dramatically since the mid-1990s.What are the positive and negative consequences of the policy change that reduced welfare rolls?

Congress can do all of the following if tax revenues become inadequate to fund Social Security EXCEPT:

What are the goals,tools,and politics of economic policy? Has the government been successful at pursuing its goals?

The adjustment of Social Security benefits to account for changes in living costs is an example of the practice of:

Policies that manipulate the growth of the entire economy by controlling the availability of money to banks are called ________ policies.

The Medicare spending bill passed by Bush and a majority-Republican Congress in 2003:

Since 1950,the average incomes of every income group increased-though the incomes of the wealthiest Americans (the top 5 percent)increased more sharply than those of any others.This observation is also referred to as: