Laissez-faire
an economic system in which government intrudes as little as possible in the economic transactions among citizens and businesses
Individualism
the belief that individuals should be responsible for themselves and for the decisions they make
Political Culture
the dominant set of beliefs, customs, traditions, and values that define the relationship between citizens and government
Political Ideology
the coherent set of values and beliefs about the purpose and scope of government held by groups and individuals
Political Socialization
The process by which we develop our political attitudes, values, and beliefs. Family, school, and media are common factors
Scientific Poll
a representative poll of randomly selected respondents with a statistically significant sample size, using neutral language
Exit Poll
a survey conducted outside a polling place in which individuals are asked who or what they just voted for and why
Benchmark Polls
a survey taken at the beginning of a political campaign in order to gauge support for a candidate and determine which issues are important to voters
Gender Gap
A term that refers to the regular pattern by which women are more likely to support Democratic candidates. Women tend to be significantly less conservative than men and are more likely to support spending on social services and to oppose higher levels of military spending.
Conservatism
an ideology favoring more control of social behavior, fewer regulations on businesses, and less government interference in the economy
Liberalism
an ideology favoring less government control over social behavior and more greater regulation of businesses and of the economy
Libertarianism
an ideology favoring very little government regulation and intervention beyond protecting private property and individual liberty
Fiscal Policy
government use of taxes and spending to attempt to influence economic conditions, such as unemployment and economic growth. Put in action by elected officials
Monetary Policy
a set of economic policy tools designed to regulate the amount of money in the economy. Enacted by central bankers
Keynesianism
Belief in aggressive government intervention to combat recession & promote economic growth, especially by massive federal spending ("stimulus")
Supply-side Economics
An economic philosophy that holds the sharply cutting taxes will increase the incentive people have to work, save, and invest. Greater investments will lead to more jobs, a more productive economy, and more tax revenues for the government.
Monetarism
A theory that government should control the money supply to encourage economic growth and restrain inflation.
Medicare
A federal program of health insurance for persons 65 years of age and older
Medicaid
a federal and state program that helps with healthcare costs for some people with limited income and resources. ________ is the largest source of funding for medical and health-related services for people with low income in the United States.
Federal Reserve System
The country's central banking system, which is responsible for the nation's monetary policy by regulating the supply of money and interest rates