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AP Gov Vocab #8 Flashcards

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15603771254Individualisma social theory favoring freedom of action for individuals over collective or state control.0
15603771255equality of opportunitya widely shared American ideal that all people should have the freedom to use whatever talents and wealth they have to reach their fullest potential1
15603776080free enterpriseEconomic system in which individuals and businesses are allowed to compete for profit with a minimum of government interference2
15603776081Rule of Lawprinciple that the law applies to everyone, even those who govern3
15603781182political socializationthe process by which people gain their political attitudes and opinions4
15603781183political ideologya more or less consistent set of beliefs about what policies government ought to pursue5
15603785098Keynesian economic theoryThe theory emphasizing that government spending and deficits can help the economy weather its normal ups and downs.6
15603785099supply-side economicsAn 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.7
15603792764monetary policyGovernment policy that attempts to manage the economy by controlling the money supply and thus interest rates.8
15603801592fiscal policyA government policy for dealing with the budget (especially with taxation and borrowing)9
15603801593Liberal Ideologyopen to new behavior or opinions and willing to discard traditional values.10
15603806383Conservative IdeologyHolding to traditional attitudes and values and cautious about change or innovation, typically in politics or religion.11
15603809962Franchise/Suffragethe legal right to vote12

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