quiz 6 Flashcards
what fiscal policy do republicans follow
trickle down
what is trickle down economics
belief where if more money is revived by companies, it is assumed the company would reinvest the money into its business
what economic beliefs do republicans have
- low taxes
- low regulations
- infrastructure
what fiscal policy do democrats follow
bottoms up
what is bottoms up economics
the focus should be on getting money to the working class so they can spend it
what economic beliefs do democrats have?
- social programs
- education
- union support
- progressive income taxes
- infrastructure
what are keynesian economics
process done during a recession
step 1 of keynesian economics
- respond to recession by
1) increase gov spending on social programs and infrastructure
2) cut taxes
step 2 of keynesian economics
respond to recovery by
1) reducing gov spending and paying off debt
2) raising taxes
why or why not is step 2 of keynsian economics not liked?
it’s not favorable for both parties so it’s usually skipped
what is a flat tax
same rate all the time for everyone
ex. sales tax
progressive tax
tax that varies by relative income
what is the only progressive tax
income tax
what is political socialization
the process of forming a political opinion
biggest influence on others political party:
family
what are the types of potential bias polls
1) sample bias
2) selection bias
3) answer bias
4) question bias
sample bias
randomly selected sample fails to properly represent demographics of larger populations
selection bias
sample was selected in a way that was not truly random
answe bias
respondent may not answer truthfully
question bias
questions in the survey are written in a way that elicit inaccurate responses
question bias examples
- leading question (sways answer)
- loaded question (forces a certain answer)
- fails to include all possible answers
