unit 3 vocab Flashcards
widely shared political beliefs and values held by citizens of a society.
ex. individual liberty
political culture
the belief that one has a responsibility to be involved in political affairs, such as voting
civic duty
a belief that one’s voice can affect government policies
political efficacy
the idea that each person ha significance, worth, and rights that exist independently from the government
individualism
the principle that each person is guaranteed the same chance to succeed
equality of opportunity
the government is restrained in their lawful use of power and may only exercise those powers assigned to it in the constitution
limited government
an economic system that is based upon private ownership, individual initiative, profit, and competition
free enterprise
process by which political views and values are passed on to younger generations
political socialization
citizens’ attitudes about societal and political issues, leaders, and events
public opinion
a survey of public opinion
poll
method of selecting individuals from a population in which each person has an equal probability of being selected
random sample
the margin of inaccuracy that results from polling a random sample as opposed to the entire population
sampling error
polls based on interviews conducted on election day with randomly selected voters
exit polls
a set of beliefs about the role of the government and public policy
political ideology
ideological view that favors greater government involvement regarding the economy, social welfare, and equality; and a progressive view regarding social values
liberal
ideological views that favors limited government involvement, fewer economic regulations, and traditional social values
conservative
ideological view that favors limited government involvement in all areas, from economic regulations to social values
libertarian
the belief that the government must manage the economy by spending more money when in a recession and cutting spending when there is inflation
keynesian economics
the belief that lower taxes and fewer regulations will stimulate the economy
supply-side economics
managing the economy by the use of tax and spending laws
fiscal policy
managing the economy by adjusting the supply of money and interest rates; responsibility of the federal reserve
monetary policy
this regulatory commission is the central banking system of the united states
federal reserve
spending that has been written into law that the government must pay out each year
mandatory spending
spending not required to pay for interest on the national debt or entitlement programs; can be adjusted from year to year
discretionary spending
the annual shortfall between what the government has spent in one year’s time and what they have collected in taxes
budget beficit
the total amount the us government owes from the foundation of the country to the present
national debt
an excess in revenue after all expenses have been paid in a fiscal year
surplus
programs individuals are eligible for when they meet certain pre-established eligibility requirements
entitlements
