Unit 4 Test Flashcards
Medicaid
Federal program that provides health care for the poor.
Medicare
Federal program that provides health insurance to seniors and the disabled.
Gross Domestic Policy (GDP)
The total value of goods and services produced by an economy.
Consumer Price Index (CPI)
The cost of a fixed basket of goods and services over time, used to measure the cost of living.
Fiscal Policy
Decisions the government makes about government spending and taxation, helps regulate the economy, Republicans support a fiscal limited government.
Libertarianism
Overall goal is to minimize government interference in people’s lives and maximize individual freedom.
Conservatism
Favors fewer regulations on businesses and less government interference in the economy, strong stances on crime/punishment, state rights over federal power, traditional social structures.
Liberalism
Favors more government regulation of businesses and of the economy, government should actively protect individual rights.
Republican Party (GOP)
Aligns with Conservative ideology, fiscal limited government, free markets and economic growth, national security and defenses, law and order, pro-life, second amendment rights.
Democratic Party
Aligns with Liberal ideology, access to affordable health care, economic fairness, climate actions, education, civil rights and equality.
Federal Reserve
Set up interest rates, decides how much money is put out into the system.
Keynesian Economics
Economic theory that advocates for government intervention in the economy to stabilize economic functions.
Monetary Policy
Decision the government makes about how much money should be in the economy, under the federal reserve, conservatives favor it.
Non-Response Bias
Certain groups are more likely to respond to public opinion polls than others.
Public Opinion Poll Effects
Effects elections and the outcome of policy debates.