Unit 1 Basics Plus Economic Policy

Question 1

Conservative

Answer 1

-Favor Tradition
-Respect for Authority, Law & Order
-Favors government inervention in private/social matter
-Little government intervention in economy
-Overall smaller government

Question 2

Liberal

Answer 2

-Favor Progress
-Respect for Safety, Fairness, Equality
-Favor active government role in regulating economy and promoting equality
-Little government intervention in private/social matter
-Overall, want a slightly larger government

Question 3

Liberatarian

Answer 3

-Favors most limited government intervention in personal, social, and economic issues
-Want the smallest government possible
-Only want government intervention with protecting the people’s private property

Question 4

What are the 5 Core American Values?

Answer 4

1. Individualism
2. Equality of Oppurtunity
3. Free Enterprise
4. Rule of Law
5. Limited Government

Question 5

What is Individualism?

Answer 5

Each person has the ability to shape their life and destiny through choices they make.

Question 6

What is Equality of Oppurtunity?

Answer 6

Alll people are given the same oppurtunities to compete and achieve.

Question 7

What is Free Enterprise?

Answer 7

Market-based economy where people choose what to sell, produce, and price of goods with little regulation from government.

Question 8

What is Rule of Law?

Answer 8

All people are subject to the law.

Question 9

What is Limited Government?

Answer 9

Powers of government restricted by Constitution and consent of governed. Balance between order and liberty.

Question 10

What is Political Socialization?

Answer 10

Process where individual acquires their political beliefs, values, and ideology.

Question 11

How does Family factor into Political Socialization?

Answer 11

It’s the first/main source of political socialization. From comments made about current events, conversations about morals/values, news programs.

Question 12

How do Social Environments factor into Political Socialization?

Answer 12

Environments with strict guidelines (Like Religious Institutions) will reinforce already held beliefs.
Environments with progressive mindesets (Like Civic Institutions) will socialize every person to accept diversity.

Question 13

How does Geography factor into Political Socialization?

Answer 13

Culture of where you grew up/live can play large influence. Southern people are more conservative. Coasts are more progressive. You adapt/adopt beliefs based on where people live and may even shed old ones.

Question 14

How does Media factor into Political Socialization?

Answer 14

The younger generation is more likely to use social media to share political involvement. Media outlets tend to reinforce existing ideas/opinions.

Question 15

How does Generational Effect factor into Political Socialization?

Answer 15

Experiences shared by peoople of a common age. Voter turnout usually higher in older generation. Younger generations more liberal than previous generations.

Question 16

How does Age/Lifestyle Effects factor into Political Socialization?

Answer 16

People shift focus on different issues of different points in life:
-College Age people focus on Education and Loans.
-Marriage and Family Age people focus on Housing costs, property tazes, school districts, etc.
-Seniors focus on Social Security and Medicare.

Question 17

How do Major Political Events factor into Political Socialization?

Answer 17

Trust, transparency, effectiveness of government, etc. Impressionable-age hypothesis. Events occuring ages 14-24 affect us more.

Question 18

What is Globalization?

Answer 18

Increasing interconnectedness of people, business, and countries throughout world. Increased rapidly in 21st centyry. Blurs lines between international and domestic policymakers. Decisions affect globe.

Question 19

What is the Influence of Globalization?

Answer 19

-U.S. influence on other countries leading to democratization.
-Usually influenced through media, and can clash with other countries or cultures values.
-Some adopt Western Values, some hold onto their own.
-Other countries can influence the US and lead to increased immigration and diversity.

Question 20

What does Fiscal Policy address?

Answer 20

Addresses taxation and spending to:
-Lower unemployment
-Stabilize economy
-Support Economic growth

Question 21

What is Monetary Policy?

Answer 21

Addresses money supply in circulation in economy to:
-Lower unemployment
-Stabilize economy

Question 22

What is Keynesian Economics?

Answer 22

Branch of Fiscal Policy supported by Liberal Ideology. Government should step in and create the right level of demand. If demand is too low or the economy is in contraction, put more money into the economy via government spending. Focuses on spending and government involvement/regulation.

Question 23

What is the Supply-Side Theory?

Answer 23

Branch of Fiscal Policy supported by Conservative Ideology. Let supply and demand govern economy. Government should leave as much of money supply as possible to people. Lower taxes on individuals and businesses would lead to more money to spend and thus more purchasing, manufacturing, and jobs which would increase pay. Focuses on taxation and limited government regulation in economy.

Question 24

What is the Federal Reserve system?

Answer 24

Created by Congress to manage money supply and interest rates.