Unit 4 terms

Federal Reserve

The central banking system of the United States, responsible for managing monetary policy, regulating banks, and ensuring financial stability.

Fiscal Policy

Government decisions regarding taxation and spending to influence the economy, such as stimulating growth or controlling inflation.

Individual Liberties

Fundamental rights and freedoms guaranteed to individuals, often protected by law, such as freedom of speech, religion, and privacy.

Keynesian Economics

An economic theory advocating for government intervention through fiscal policy (spending and taxation) to stabilize economic fluctuations.

Libertarianism

A political ideology emphasizing individual freedom, minimal government intervention, free markets, and personal responsibility.

Monetary Policy

Actions taken by a central bank, such as the Federal Reserve, to control the money supply and interest rates to achieve economic goals like low inflation and full employment.

Political Ideology

A set of beliefs and values about the role of government, politics, and public policy that shapes an individual's or group's political views.

Supply-Side Economics

An economic theory that argues reducing taxes and regulation encourages production, investment, and job creation, ultimately benefiting the economy.

Demographics

Statistical characteristics of a population, such as age, gender, ethnicity, education level, and income, used to study and analyze societal trends.

Equality of Opportunity

The principle that all individuals should have the same chances to succeed, regardless of their background or circumstances.

Free Enterprise

An economic system where private businesses operate with minimal government interference, allowing competition and market forces to determine production and prices.

Globalization

The process of increased interconnectedness and interdependence among countries, involving trade, technology, culture, and political relationships.

Individualism

A belief in the importance of individual rights, independence, and self-reliance, often prioritizing personal freedom over collective goals.

Limited Government

A political principle where government power is restricted by law, usually through a constitution, to protect individual freedoms.

Political Socialization

The process through which individuals develop their political beliefs, values, and behaviors, influenced by family, education, peers, and media.

Political Culture

The shared values, beliefs, and norms about politics and government within a society.

Rule of Law

The principle that all individuals, institutions, and government are subject to and accountable to laws that are fairly applied and enforced.

Benchmark/Tracking Poll

A type of poll used to measure public opinion at the beginning of a campaign (benchmark) or track changes over time (tracking).

Exit Poll

A survey conducted with voters as they leave polling places to predict election outcomes and analyze voting behavior.

Focus Group

A small, diverse group of people gathered to discuss and provide feedback on specific issues, policies, or products, often used in political and market research.

Mass Survey

A large-scale survey conducted to gather data on public opinion, typically using random sampling for representativeness.

Opinion Poll

A survey designed to measure public opinion on specific issues, candidates, or policies at a given time.

Poll

A method of collecting data from a sample of individuals to understand opinions, behaviors, or trends.

Public Opinion

The collective attitudes and beliefs of individuals on specific issues, policies, or political matters.

Question Bias

When the wording or format of a survey question influences responses, leading to skewed or inaccurate results.

Random Sample

A subset of a population selected randomly to ensure that every individual has an equal chance of being included, improving representativeness.

Scientific Polling

A systematic method of surveying public opinion using random sampling and standardized techniques to ensure accuracy and reliability.