Unit 7 vocab

Front

Board with members from both parties.

Back

Bipartisan

Front

A tax that impacts lower-income earners more than upper-income earners.

Back

regressive tax

Front

Created when the government alters money supply and interest rates.

Back

monetary policy

Front

Any organization with a division of labor and rules for operation.

Back

bureaucracy

Front

President giving jobs as rewards for political support.

Back

spoils system

Front

Independent agency, a government corporation, organized like a business but owned by the government.

Back

government corporations

Front

A tax applied at the same rate on all income, e.g., Medicare tax.

Back

proportional tax

Front

Tax with increasing rates as taxable amount rises.

Back

progressive tax

Front

Creation of the federal budget by Congress and President.

Back

fiscal policy

Front

Spending required by law, not subject to annual budget.

Back

mandatory spending