WorksheetsChapter 15 Vocabulary - Political Science: An Introduction
Total questions: 24
Worksheet time: 12mins
Define bailout
Emergency government loan to save firm from collapse.
Cutting government spending
Influence of politics and economy on each other; what government should do in the economy.
What a government tries to do; the choices it makes among alternatives
Define austerity
Emergency government loan to save firm from collapse.
Cutting government spending
Influence of politics and economy on each other; what government should do in the economy.
What a government tries to do; the choices it makes among alternatives
Define political economy
Emergency government loan to save firm from collapse.
Cutting government spending
Influence of politics and economy on each other; what government should do in the economy.
What a government tries to do; the choices it makes among alternatives
Define public policy
Emergency government loan to save firm from collapse.
Cutting government spending
Influence of politics and economy on each other; what government should do in the economy.
What a government tries to do; the choices it makes among alternatives
Define business cycle
Tendency of economy to alternate between growth and recession over several years.
Period of economic decline; a shrinking GDP.
A general, overall rise in prices.
“The Fed”; U.S. central bank that can raise and lower interest rates.
Define recession
Tendency of economy to alternate between growth and recession over several years.
Period of economic decline; a shrinking GDP.
A general, overall rise in prices.
“The Fed”; U.S. central bank that can raise and lower interest rates.
Define inflation
Tendency of economy to alternate between growth and recession over several years.
Period of economic decline; a shrinking GDP.
A general, overall rise in prices.
“The Fed”; U.S. central bank that can raise and lower interest rates.
Define Federal Reserve
Board
Tendency of economy to alternate between growth and recession over several years.
Period of economic decline; a shrinking GDP.
A general, overall rise in prices.
“The Fed”; U.S. central bank that can raise and lower interest rates.
Define balance of payments
The value of what a country exports compared with what it imports.
Dollar buys set amounts of foreign currencies.
Dollar buys varying amounts of foreign currencies, depending on market for them.
Combination of slow growth plus inflation in the U.S. economy in the 1970s.
Define fixed exchange rate
The value of what a country exports compared with what it imports.
Dollar buys set amounts of foreign currencies.
Dollar buys varying amounts of foreign currencies, depending on market for them.
Combination of slow growth plus inflation in the U.S. economy in the 1970s.
Define floating exchange rate
The value of what a country exports compared with what it imports.
Dollar buys set amounts of foreign currencies.
Dollar buys varying amounts of foreign currencies, depending on market for them.
Combination of slow growth plus inflation in the U.S. economy in the 1970s.
Define stagflation
The value of what a country exports compared with what it imports.
Dollar buys set amounts of foreign currencies.
Dollar buys varying amounts of foreign currencies, depending on market for them.
Combination of slow growth plus inflation in the U.S. economy in the 1970s.
Define deficit
Spending more in a given year than you take in.
Since 2002, common EU currency used in most of West Europe; value fluctuates but now worth around $1.10.
The sum total owed by the federal government.
U.S. firms producing overseas.
Define euro
Spending more in a given year than you take in.
Since 2002, common EU currency used in most of West Europe; value fluctuates but now worth around $1.10.
The sum total owed by the federal government.
U.S. firms producing overseas.
Define debt
Spending more in a given year than you take in.
Since 2002, common EU currency used in most of West Europe; value fluctuates but now worth around $1.10.
The sum total owed by the federal government.
U.S. firms producing overseas.
Define offshoring
Spending more in a given year than you take in.
Since 2002, common EU currency used in most of West Europe; value fluctuates but now worth around $1.10.
The sum total owed by the federal government.
U.S. firms producing overseas.
Define bubble
Market that has gone too high.
Periods of market boom in which greed trumps fear.
Periods of market collapse in which fear trumps greed.
U.S. federal expenditure mandated by law, such as Social Security and Medicare.
Define manias
Market that has gone too high.
Periods of market boom in which greed trumps fear.
Periods of market collapse in which fear trumps greed.
U.S. federal expenditure mandated by law, such as Social Security and Medicare.
Define panics
Market that has gone too high.
Periods of market boom in which greed trumps fear.
Periods of market collapse in which fear trumps greed.
U.S. federal expenditure mandated by law, such as Social Security and Medicare.
Define entitlement
Market that has gone too high.
Periods of market boom in which greed trumps fear.
Periods of market collapse in which fear trumps greed.
U.S. federal expenditure mandated by law, such as Social Security and Medicare.
Define tax expenditures
Government subsidies through tax breaks.
Stuck on welfare with no incentive to get off.
Programs limiting the duration of welfare payments and requiring recipients to work or get job training.
Shielding firms from the risky consequences of their behavior.
Define welfare dependency
Government subsidies through tax breaks.
Stuck on welfare with no incentive to get off.
Programs limiting the duration of welfare payments and requiring recipients to work or get job training.
Shielding firms from the risky consequences of their behavior.
Define workfare
Government subsidies through tax breaks.
Stuck on welfare with no incentive to get off.
Programs limiting the duration of welfare payments and requiring recipients to work or get job training.
Shielding firms from the risky consequences of their behavior.
Define moral hazard
Government subsidies through tax breaks.
Stuck on welfare with no incentive to get off.
Programs limiting the duration of welfare payments and requiring recipients to work or get job training.
Shielding firms from the risky consequences of their behavior.
