4 Flashcards
1
Q
Free enterprise
A
Market-based economic system in which people are allowed to buy and sell as they wish
2
Q
Rule of Law
A
No one is above the law
3
Q
Define political socialization
A
The process of a person creating a political ideology. (That means that they are forming their political views)
4
Q
How has globalization affected American political culture?
A
Values from other cultures affect American culture
5
Q
Keynesian economics
A
Increase government to stimulate economy
6
Q
Supply-side economics
A
Cut taxes to stimulate economy
7
Q
Fiscal policy vs monetary policy
A
Fiscal policy = tax and spending (Congress) and monetary policy = money supply and interest rates (Federal Reserve)
