test 3 Flashcards
what are the 5 core American political beliefs
1) rule of law
2) equality of opportunity
3) free enterprise
4) limited government
5) individualism
what is rule of law
United States has a set of laws which should be followed
what is equality of opportunity
barriers should not exist to prevent people from achieving thing in the US
what is free enterprise
you can buy and sell what you want
what is limited gov
gov is restricted by the constitution from exerting more power than is necessary on the american ppl
what is individualism
The idea that the government should not involve itself in the lives of its citizens
what is the difference between monetary policy and fiscal policy
monetary is the regulation of money, fiscal is tax money that is spent
what is the democratic economic policy called and what is it
policy that requires more money to be given to working class in order for them to participate in the economy
what is supply side economics
The idea that improved infrastructure and minimal regulation are the best way to improve the economy (more republican)
*minimizing gov involvement
democratic social policies
-affirmative action
-lgbt protections
libertarian policy
government should leave us alone unless its about protecting our property
what are keynsian economics
policy used during economic recession
*more gov involvement
step 1 of keynsian economics
- increase debt by spending on social programs and infrastructure
- lower taxes
step 2 of keynsian economics
- pay off debt and reduce gov spending
- raise taxes
political socialization
the process of forming political values