AP GOV UNIT 2

* is ones not on the next terms quiz but i did now cuz ik id be too lazy to do it later

political ideology

a set of beliefs about the desired goals and outcomes of a process of governance

right

something guaranteed, that the government cannot take away

privilege

something a person may obtain or receive, but that the government can take away

party ideology

a party’s philosophy about the proper role of government and its set of positions on major issues

party identification

an individual’s attachment to a political party

conservatism

an ideology favoring more control of social behavior, fewer regulations on business, and less government interference in the economy

liberalism

an ideology favoring less government control over social behavior and more greater regulation of business and of the economy

libertarianism

an ideology favoring very little government regulation and intervention beyond protecting private property and individual liberty

laissez-faire

economic policy in which governments intrude as little as possible in the economic transactions between citizens and businesses (keeping government out of economy)

command-and-control economy*

economic policy in which government dictates much of a nation’s economic activity, including the amount of production and price for goods (government dictates most of the nation’s economy)

mixed economy*

economic policy in which many economic decisions are left to individuals and businesses, with the government regulating economic activity

gross domestic product (GDP)*

a total value of goods and services produced by an economy

economic recession*

a period of decline in economic activity, typically defined by two consecutive quarters of negative GDP growth

unemployment rate*

the percentage of people actively looking for work who cannot find jobs

inflation

the rise in the prices of goods and services

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*

government use of taxes and spending to attempt to lower unemployment, support economic growth, and stabilize the economy

federal reserve system*

a board of governors, Federal Reserve Banks, and member banks responsible for monetary policy

monetary policy*

a set of economic policy tools designed to regulate the amount of money in the economy

medicare

a federal program that provides health insurance to seniors and the disabled

medicaid

a federal program that provides health care for the poor