Question 1

What is the purpose of the Federal Reserve System? Give an example of a monetary decision or policy made by the Federal Reserve. Who would benefit positively from such a decision? Who would benefit negatively?

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Question 2

Describe the differences between a progressive tax, a regressive tax, and a flat tax. Give examples of the individuals or groups that benefit most from each of these taxing formats.

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Question 3

Define the two economic system theories of capitalism and socialism. How do they differ? Using these two theories, describe how the United States has tended to differ with some European nations, such as Sweden, in the role of a central government as a provider of social benefits.

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Question 4

Fully explain the process through which the Federal Reserve Board generates and applies monetary policy.

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Question 5

Describe the impact of entitlements on the budgetary process.

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Question 6

Discuss the status of the United States as a welfare state. How has it evolved? What has it accomplished? Where has it failed?

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Question 7

Compare and contrast the crime control model and the due process model of the criminal justice system. Apply criticisms of the criminal justice system to evaluate the effectiveness of each model.

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Question 8

Discuss the pros and cons of modern education policy. How does No Child Left Behind address critical issues in education? What are its shortcomings?

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Question 9

Which of the following statements about the Patient Protection and Affordable Care Act is incorrect?

Accepted Answer

The Patient Protection and Affordable Care Act does not provide a universal health care system like European countries. It is a complex set of regulations aimed at improving the accessibility and affordability of health care in the United States, but it does not establish a single-payer system.

Question 10

Widely used in the 1980s and 1990s, but have since increasingly come under stricter legislative control, __________ is a health care arrangement in which prepaid group arrangements limit costs through flat monthly rates.

Accepted Answer

Health maintenance organizations (HMOs) are the health care arrangement in which prepaid group arrangements limit costs through flat monthly rates. They were widely used in the 1980s and 1990s but have since come under stricter legislative control.

Question 11

Explain how the Social security system works. What are some of the biggest concerns with the Social Security system? When did the system start to deteriorate and what milestones are coming up that may test its solvency? What are some alternatives for retirees?

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Question 12

Discuss the major criticisms about American health care system. How do we compare to other countries that institute universal health care? What does the Patient Protection and Affordable Care Act of 2010 hope to accomplish?

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Question 13

What is the most common criticism about the health care system in the United States?

Accepted Answer

The cost of healthcare in the United States is often cited as the most common criticism. It is significantly higher than in other developed countries and can create financial hardship for many Americans.

Question 14

Which of the following is a primary argument by supporters of the current system of American health care in which most patients secure health care insurance on their own?

Accepted Answer

Supporters of the current system of American health care argue that it allows more choice in doctors and facilities than citizens in most other parts of the world.

Quiz 15: American Domestic Policy