AP Gov Unit 4

Bonds

Government or corporate debt securities sold to raise money, repaid with interest.

Discount Rate

The interest rate the Federal Reserve charges banks for short-term loans.

Federal Reserve Board

Governing body of the U.S. central bank, overseeing monetary policy.

Fiscal Policy

Government use of taxation and spending to influence the economy.

Flat Rate

A tax rate that remains constant regardless of income level.

Inflation

The rise in prices over time.

Internal Revenue Service (IRS)

U.S. agency responsible for tax collection.

Monetary Policy

Central bank actions to control money supply and stabilize the economy.

Multiplier Effect

Economic theory that spending generates additional income and economic growth.

North American Free Trade Agreement (NAFTA) (1994)

Trade treaty between the U.S., Canada, and Mexico to reduce tariffs and increase trade.

Progressive Tax

Tax system where tax rates increase with higher income.

Reserve Requirement

The minimum amount of reserves that banks must hold, set by the Federal Reserve.

Sixteenth Amendment (1913)

Gave Congress the power to levy an income tax.

Supply-Side Economics

The belief that lower taxes and deregulation boost economic growth.

Trade Balance

A country's exports minus its imports.

Entitlements

Federal programs that assure benefits to eligible recipients.

Mandatory Spending

Federal spending required by law, e.g., entitlement programs like Medicare and Social Security.

Medicaid

A joint state and federal government program that offers health care for low-income individuals and families.

Medicare

A federal health insurance program for persons aged 65 and above or with certain disabilities.

Patient Protection and Affordable Care Act (2010)

A law that expanded healthcare coverage and protections to Americans.

Social Security Act (1935)

Established Social Security, providing retirement and disability benefits.

Social Welfare

Government-operated programs to assist individuals in need.

Approval Rating

A gauge of public approval of a policy or political leader.

Benchmark Polls

Initial polls taken at the start of a campaign to gauge public opinion and guide strategy.

Entrance Polls

Polls administered to voters as they enter voting booths to predict election results.

Exit Polls

Polls administered immediately after voters leave voting booths to analyze voting patterns and demographics.

Focus Group

A small discussion group of people gathered together to discuss political issues, providing qualitative data.

Push Polling

A deceptive polling technique designed to shape public opinion by asking biased or misleading questions.

Random-Digit Dialing

A polling technique that dials telephone numbers randomly to gain a diverse sample of respondents.

Random Sample

A polling group selected by chance to provide a fair representation of the population's opinions.

Representative Sample (Universe)

A group of poll respondents that is a genuine reflection of the population being surveyed.

Sampling Error (Margin of Error)

A measure of a poll's accuracy, stating how much results may differ from the actual opinion of the population.

Tracking Polls

Sequential polls conducted over time to follow changes in public opinion.

Weighting (Stratification)

Adjustments to poll results to ensure the sample accurately reflects the population's demographics.

Bandwagon Effect

Individuals cast their vote for a candidate because of their seeming popularity in the polls.

Non-Response Bias

Polls are distorted when segments of people consistently don't respond.

Bradley Effect

Voters wrongly report their true choice, especially in elections involving non-white candidates.

Social Desirability Bias

People give poll responses that they think are socially acceptable rather than their personal views.