Question 1

economic policy in which many economic decisions are left to individuals and businesses with the federal government regulating economic activity.

Accepted Answer

Mixed Economy

Question 2

a period of decline in economic activity, typically defined by two consecutive quarters of negative GDP growth.

Accepted Answer

Economic Recession

Question 3

economic policy in which government dictates much of a nation's economic activity, including the amount of production and prices for goods.

Accepted Answer

command and control economy

Question 4

your ____ is something fundamental to which all have access

Accepted Answer

Right

Question 5

an individual's attachment to a political party.

Accepted Answer

Party Identification

Question 6

an ideology favoring less government control over social behavior and greater regulation of the economy.

Accepted Answer

Liberalism

Question 7

economic policy in which governments intrude as little as possible in the economic transactions between citizens and businesses.

Accepted Answer

laissez faire economics

Question 8

an individual's coherent set of beliefs about govern ment and politics.

Accepted Answer

Political Ideology

Question 9

Your _____ is subject to political process.

Accepted Answer

Privilege

Question 10

a federal program that provides health insurance to seniors and the disabled.

Accepted Answer

Medicare

Question 11

an ideology favoring more regulation of social behavior and less government interference in the economy.

Accepted Answer

Conservatism

Question 12

the total value of goods and services produced by an economy

Accepted Answer

Gross Domestic Product

Question 13

an ideology favoring very little government intervention beyond protecting private property and individual liberty

Accepted Answer

Libertarianism

Question 14

the percentage of people actively looking for work who cannot find jobs.

Accepted Answer

Unemployment Rate

Question 15

the rise in the prices of goods and services.

Accepted Answer

Inflation

Question 16

a basket of fixed goods and services over time, used to measure the cost of living.

Accepted Answer

Consumer Price Index

Question 17

government use of taxes and spending to attempt to lower unemployment, support economic activity, and stabilize the economy.

Accepted Answer

Fiscal Policy

Question 18

a board of governors, Federal Reserve Banks, and member banks responsible for monetary policy.

Accepted Answer

Federal Reserve System

Question 19

a set of economic policy tools designed to regulate the amount of money in the economy.

Accepted Answer

Monetary Policy

Question 20

a federal program that provides health care for the poor.

Accepted Answer

Medicaid

Political Ideologies Review

2) a period of decline in economic activity, typically defined by two consecutive quarters of negative GDP growth.

3) economic policy in which government dictates much of a nation's economic activity, including the amount of production and prices for goods.

4) your ____ is something fundamental to which all have access

5) an individual's attachment to a political party.

6) an ideology favoring less government control over social behavior and greater regulation of the economy.

7) economic policy in which governments intrude as little as possible in the economic transactions between citizens and businesses.

8) an individual's coherent set of beliefs about govern ment and politics.

9) Your _____ is subject to political process.

10) a federal program that provides health insurance to seniors and the disabled.

11) an ideology favoring more regulation of social behavior and less government interference in the economy.

12) the total value of goods and services produced by an economy

13) an ideology favoring very little government intervention beyond protecting private property and individual liberty

14) the percentage of people actively looking for work who cannot find jobs.

15) the rise in the prices of goods and services.

16) a basket of fixed goods and services over time, used to measure the cost of living.

17) government use of taxes and spending to attempt to lower unemployment, support economic activity, and stabilize the economy.

18) a board of governors, Federal Reserve Banks, and member banks responsible for monetary policy.

19) a set of economic policy tools designed to regulate the amount of money in the economy.

20) a federal program that provides health care for the poor.