U4 Flashcards
rule of law
every person must follow the same laws
political socialization
our response to issues affect how we view the gov
political ideology
set of beliefs about gov and politics
partisanship
sharp contrasts from opposing parties to create clear distinctions
fiscal policy
gov spending and taxes
monetary policy
control of money supply by raising/lowering interest rates
GDP
total output of the economy
during expansion
GDP rises, unemployment declines, inflation rises
during contraction
GDP declines, unemployment rises, inflation declines
keynesian policy
gov has a positive effect on economy
supply-side theory
lowering taxes has a positive effect on economy
easy money
people borrow money more because the cost of borrowing is lower
hard money
people borrow money less because the cost of borrowing is higher
sample surveying
subgroup of individuals from a larger population
random selection
respondents must have an equal chance of being selected
weighting
adjust survey results according to demographic makeup of a larger population
sampling
a calculated estimate of how accurate the poll is, sampling error of +/- 3%
opinion poll
measures public opinion
benchmark poll
taken at begining of campaign to establish base level of support
tracking poll
track level of support over the time of a campaign
exit poll
taken following voting, shows who is voting and why, helps determine the outcome of an election
free enterprise
gov involvement in the economy should be limited
globalization
increasing interconnectedness of people, businesses, and countries
Laissez-faire
state and federal government have minimal influence on the economy
