Public Policy Formation: Market Failures, Government Interventions, and Policy Contexts

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Political Science - Public Policy

jake12testoswi Created by 10 mon ago

Cards in this deck(26)

Public policy is made within three contexts: social, economic, and _____ contexts.

Three reasons for government involvement include political, moral/ethical, and _____ reasons.

Market failure can occur due to negative externality, positive externality, and _____ failure.

A negative externality occurs when a third party is harmed from interactions of two other parties, such as _____ (e.g., pollution).

A positive externality occurs when the third party benefits from a two-party interaction without having to pay for it, such as _____ (e.g., higher education).

Information failure occurs when buyers and sellers lack the necessary _____ for transactions or exchanges.

The institutions and political processes through which public policy choices are made are collectively known as the _____.

Market failure occurs when the private market is not efficient, including issues like monopolies, externalities, and _____ failure.

The exercise of power in society or in specific decisions over public policy is referred to as _____.

Public policy refers to what public officials within government choose to do or not to do about _____ problems.

Conditions that the public widely perceives to be unacceptable and require intervention are known as _____ problems.

The steps of cost-benefit analysis include identifying costs and benefits, measuring them, adjusting for time, and _____ them.

Effectiveness, efficiency, and equity are three types of criteria used to _____ public policy.

Economic policy aims to achieve goals such as economic growth, low levels of unemployment, and low levels of _____.

Fiscal policy involves adjusting taxes and interest rates, while monetary policy decisions are made by the _____.

The steps leading to the President's presentation of the budget include agency budget development and _____ review.

Entitlement programs are problematic for the budget due to the potential _____ of other budget priorities.

Entitlement programs have payment obligations determined by the law that created them, not by the _____ associated with the program.

Fiscal policy describes taxing and spending tools, with the primary tool being the _____.

Monetary policy is a pivotal component of economic policy in the United States, determined by the _____.

Foreign policy includes diplomacy, economic relations, and threats of _____ intervention.

Two foreign policy instruments include military strength and _____ agencies like the CIA and NSA.

Post 9/11, issues related to homeland security policy include increased airport security and the creation of the Department of _____.

Foreign aid involves economic and military assistance to other _____.

Foreign policy is a collection of government actions affecting U.S. national security and associated _____ goals.

Globalization refers to the growing interrelationship of all nations through global trade and other kinds of _____ and communication.

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Public Policy Formation: Market Failures, Government Interventions, and Policy Contexts

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