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| Political idelogoy | an individual’s coherent set of beliefs about government and politics.
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| Right | something guaranteed, that the government cannot take away.
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| Privilege | something something a person may obtain or receive, but that the government can take
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| Party ideology | a party’s philosophy about the proper role of government and its set of positions on major iss
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| Party identification | an individual’s attachment to a political party
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| Conservartion | an ideology favoring more control of social behavior more, fewer regulations on businesses, and less government interference in the econ
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| Liberalism | ideology favoring less government control over social behavior and more greater regulation of businesses and of the economy.
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| Libertarianism | an ideology favoring very little government regulation and intervention beyond protecting private property and individual libert
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| Laissez faire economy | economic policy in which governments intrude as little as possible in the economic transactions
between citizens and businesses.
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| Command and control economy | economic policy in which government dictates much of a nation’s economic activity, including the amount of production and prices for go
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| Mixed economy | economic policy in which many economic decisions are left to individuals and businesses, with the government regulating economic acti
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| Gross domestic product | total value of goods and services produced by an econom
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| Economic reccesion | period of decline in economic activity, typically defined by two consecutive quarters of negative GDP grow
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| Unemployment rate | percentage of people actively looking for work who cannot find jo
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| Inflation | The rise of prices of goods and services
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| Consumer price index | cost of a fixed basket of goods
and services over time, used to measure the cost of liv
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| Fiscal policy | government use of taxing and spending to attempt to lower unemployment, support economic growth, and stabilize the econo
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| Federal reserve system | board of governors, Federal Reserve Banks, and member banks responsible for monetary p
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| Monetary policy | set of economic policy tools designed to regulate the amount of money in the econo
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| Medicare | federal program that provides health insurance to seniors and the disa
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| Medicaid | federal program that provides health care for the poor.
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Created by:
Akko