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| 335571951 | Fiscal Policy | a government policy for dealing with the budget (especially with taxation and borrowing) | 0 | |
| 335571952 | Progressive Tax | any tax in which the rate increases as the amount subject to taxation increases | 1 | |
| 335571953 | Payroll Tax | tax on wages and salaries to finance Social Security and Medicare costs | 2 | |
| 335571954 | Regressive Tax | A tax whereby people with lower incomes pay a higher fraction of their income than people with higher incomes. | 3 | |
| 335571955 | Excise Tax | a tax that is measured by the amount of business done (not on property or income from real estate) | 4 | |
| 335571956 | Estate Tax | a tax on the estate of the deceased person | 5 | |
| 335571957 | Gift Tax | a tax imposed on transfers of property by gift during the lifetime of the giver | 6 | |
| 335571958 | Customs Duty | money collected under a tariff (when goods are taken out of the country) | 7 | |
| 335571959 | Interest | (law) a right or legal share of something | 8 | |
| 335571960 | Deficit | An excess of federal expenditures over federal revenues. | 9 | |
| 335571961 | Surplus | a quantity much larger than is needed | 10 | |
| 335571962 | Demand Side Economics | the idea that government spending and tax cuts help an economy by raising demand | 11 | |
| 335571963 | Supply-Side Economics | An economic philosophy that holds the sharply cutting taxes will increase the incentive people have to work, save, and invest. Greater investments will lead to more jobs, a more productive economy, and more tax revenues for the government. | 12 | |
| 335571964 | Public Debt | the total of the nation's debts: debts of local and state and national governments | 13 | |
| 335571965 | Entitlement | right granted by law or contract (especially a right to benefits), a required government expenditure that continues from one year to the next | 14 | |
| 335571966 | Controllable Spending | an amount that congress and the president to determine how much will be spent each year on many individual government expenditures | 15 | |
| 335571967 | Uncontrollable Spending | The portion of the federal budget that is spent on programs, such as Social Security, that the president and Congress are unwilling to cut. | 16 | |
| 335571968 | Continuing Resolution | A temporary funding law that Congress passes when an appropriations bill has not been decided by the beginning of the new fiscal year on October 1. | 17 | |
| 335571969 | Gross Domestic Product | measure of the United States economy adopted in 1991, The total value of goods and services produced within the borders of a country during a specific time period, usually one year. | 18 | |
| 335571970 | Inflation | a general and progressive increase in prices | 19 | |
| 335571971 | Deflation | a contraction of economic activity resulting in a decline of prices | 20 | |
| 335571972 | Recession | the state of the economy declines | 21 | |
| 335571973 | Keynesian Economics | Economic theory based on the principles of John Maynard Keynes stating that government spending should increase during business slumps and be curbed during booms. | 22 | |
| 335571974 | Monetary Policy | Government policy that attempts to manage the economy by controlling the money supply and thus interest rates. | 23 | |
| 335571975 | Open Market Operations | The buying and selling of Treasury Securities by the Federal Reserve in order to control the money supply | 24 | |
| 335571976 | Reserve Requirement | This is the percentage of their deposits that member banks must keep available in a Federal Reserve Bank. | 25 | |
| 335571977 | Discount Rate | the rate of interest set by the Federal Reserve that member banks are charged when they borrow money through the Federal Reserve System | 26 | |
| 335571978 | Bureaucracy | a system of managing government through departments run by appointed officials | 27 | |
| 335571979 | Patronage | (politics) granting favors or giving contracts or making appointments to office in return for political support | 28 | |
| 335571980 | Pendleton Civil Service Act | 1883 law that created a Civil Service Commission and stated that federal employees could not be required to contribute to campaign funds nor be fired for political reasons | 29 | |
| 335571981 | Civil Service | A system of hiring and promotion based on the merit principle and the desire to create a nonpartisan government service. | 30 | |
| 335571982 | Merit Principle | the idea that hiring should be based on entrance exams and promotion ratings to produce administration by people with talent and skill. | 31 | |
| 335571983 | Hatch Act | Federal statute barring federal employees from active participation in certain kinds of politics and protecting them from being fired on partisan grounds. | 32 | |
| 335571984 | Office of Personnel Management | The office in charge of hiring for most agencies of the federal government, using elaborate rules in the process. | 33 | |
| 335571985 | General Schedule Rating | a schedule for federal employees by which salaries can be keyed to rating and experience | 34 | |
| 335571986 | Senior Executive Service | Established by Congress in 1978 as a flexible, mobile corps of senior career executives who worked closely with presidential appointees to manage government. | 35 | |
| 335571987 | Independent Regulatory Commission | A government agency or commission with regulatory power whose independence is protected by Congress. | 36 | |
| 335571988 | Government Corporation | A government agency that operates like a business corporation, created to secure greater freedom of action and flexibility for a particular program. | 37 | |
| 335571989 | Independent executive agency | The government not accounted for by cabinet departments, independent regulatory agencies, and government corporations. Its administrators are typically appointed by the president and serve at the president's pleasure. NASA is an example., A federal agency that is not part of a cabinet department but reports directly to the president. Like NASA | 38 | |
| 335571990 | policy implementation | Carrying out a policy through government agencies and courts | 39 | |
| 335571991 | Standard operating procedures | Better known as SOPs, these procedures are used by bureaucrats to bring uniformity to complex organizations. Uniformity improves fairness and makes personnel interchangeable. | 40 | |
| 335571992 | Administrative Discretion | Authority given by Congress to the federal bureaucracy to use reasonable judgment in implementing the laws. | 41 | |
| 335571993 | street level bureaucrats | A phrase coined by Michael Lipsky, referring to those bureaucrats who are in constant contact with the public and have considerable administrative discretion. | 42 | |
| 335571994 | regulation | a principle or condition that customarily governs behavior | 43 | |
| 335571995 | command and control policy | According to Charles Schultze, the existing system of regulation whereby government tells business how to reach certain goals, checks that theses commands are followed, and punishes offenders. | 44 | |
| 335571996 | incentive system | according to Charles Schultze, a more effective and efficient policy than command-and-control; in the incentive system, market-like strategies are used to manage public policy. | 45 | |
| 335571997 | Deregulation | the act of freeing from regulation (especially from governmental regulations) | 46 | |
| 335571998 | executive orders | regulations originating from the executive branch. Executive orders are one method presidents can use to control the bureaucracy. | 47 | |
| 335571999 | iron triangle | a relationship of a committee, administrative agengcy and one or more interest groups, an informal association of federal agency, congressional committee, and interest group that is said to have heavy influence over policy making. | 48 |
