Ideology
The process by which individuals develop their political beliefs, values, opinions, and behaviors
What is Political Socialization
What type of system is the US economy
Mixed economy
Who is in charge of, or sets Monetary Policy
FED, Federal Reserve System
Which Party is most likely to support the passing of Obamacare or the Affordable Care Act
Democrat
This is used to measure cost of living.
CPI (Consumer Price Index)
A set of beliefs about the desired goals and outcomes of a process of governance
Political ideology
How long must there be a decline in GDP for it to be called a recession.
2 consecutive quarters
What two ways can the government use to affect the economy through fiscal policy
Taxes and spending
Which Ideology is most likely to support a system of school vouchers in then education system?
Conservative
What state is Mr. Elder originally from?
California
What ideology favors very little government regulation and intervention beyond protecting personal property and individual liberty.
Libertarianism
Supply side economics is commonly referred to as:
Reaganomics
Raising reserve rates is an example of which policy?
Monetary Policy
Which Ideology believes in less regulation on social behavior?
Liberal
Turning 65 and retiring while not caring as much about the job market is an example of what?
Life Cycle Effects
more control of social behavior and fewer regulations on businesses is something that a ____ would favor
conservative
The Unemployment Rate only measures what group of people?
Unemployed people who are looking for work
List the three different ways the FED controls the money supply:
Buys and sells Treasury Bills
Sets reserve requirements for banks
Sets interest rates - federal funds rate - loans to District Banks
Party most in favor of having states make and enforce more economic and social policy instead of the Federal Government
Republican
What is Mr. Elder's favorite soda (the best soda)?
Doctor Pepper
Jimmy believes the government should regulate the economy and in less government involvement in our social lives, what is he?
liberal
What ideology would a Keynesian economist most likely have?
Liberal (government intervention in economy)
Who do the FED have to listen to when enacting Monetary Policy?
No one, they are politically independent in theory
Why would Libertarians be opposed to the government passing regulations limiting access to Abortion?
Their Ideology supports little to no government regulation except to protect individual liberty and private property
Being born in 1999, what generation is Mr. Elder. Wrong answers hurt my feelings
Gen Z, Zoomer, Elder Gen Z