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

Define the Key Terms and Names on p. 439

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 rather than statistical 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.