Unit 4 Review - Political Ideology and Beliefs

Individualism

the ideal that each person has the ability to shape their own life through the choices they make

Economic Regulation

government should prevent market failure, protect environment, and secure citizens' welfare

Life Cycle Effects

experiences a person may encounter at different stages in their life such as marriage, children, or buying a home

Tracking Polls

ask the same question repeatedly over time and monitor how public's views on an issue change

Stratified Sampling

participants are selected randomly from groups to ensure diversity

Margin of Error

possible deviation from the reported results

Fiscal Policy

all taxing and spending decisions made by Congress and the President

Expansionary Fiscal Policy

reduce tax rates, increase government spending

Contractionary Fiscal Policy

increase tax rates, decrease government spending

Free Market Economics

no government regulation; business succeeds or fails on their own merit; preferred by libertarians

Collectivism

individuals should support each other and contribute to the good of the broader community

Equality of Opportunity

all people should be given an equal chance to compete in life

Rule of Law

every person must follow and be accountable to the same laws, even those in power

Political Socialization

The process by which a person's political ideology is formed due to social factors, external events, and personal life developments

Generational Effects

experiences shared by people of a common age, especially those occurring during early formative years

Opinion Polls

any poll that asks members of the public their opinion on a specific issue or topic

Benchmark Polls

asks members of the public their opinion on a specific candidate to gauge initial interest

Exit Polls

asks voters how and why they voted outside of a polling place on election day

Three Factor Test for Quality Polls

Accurate sampling methods, neutral framing of questions, and accurate reporting

Random Sampling

everyone has an equal (random) chance of being selected

Loaded Language

frames the issue in a biased way that suggests a "correct" answer

Forced Choice Poll

provides the respondent with an inappropriate number of options to choose from

Push Poll

introduces negative information about an opponent and then asks about it

Knowledge Deficit

the public does not know enough to form an opinion

Social Desirability Bias

public says what they think the pollster wants to hear

Non-response Bias

the public refuses to participate in polls, skewing the results

Monetary Policy

tools implemented by the Federal Reserve to alter money supply, interest rates, and availability of credit

Expansionary Monetary Policy

buy gov. bonds, lower reserve requirement, lower interest rates; puts more $ into economy

Contractionary Monetary Policy

sell gov. bonds, raise reserve requirement, raise interest rates; takes $ out of economy

Supply Side Economics

leave as much money as possible with the people; preferred by conservatives

Keynesian Economics

gov. should keep economy functioning; gov. spending leads to economic growth; preferred by liberals

Conservative Economic Priorities

individual choice, free enterprise, low government regulation

Liberal Economic Priorities

equality of opportunity, social safety net, gov. regulations

Libertarian Economic Priorities

property rights and free trade