AP Government and Politics Flashcards: Ideology And Economic Policy

What this deck covers

This deck focuses on Ideology And Economic Policy, giving you a quick way to review the definitions, rules, and examples that matter most for AP Government and Politics.

How to use these flashcards

Work through these flashcards in short sessions. Try to answer each prompt before flipping the card, then revisit any cards you miss until the explanation feels automatic.

Flashcard 1: What is the economic effect of a subsidy?

Answer: Reduces the cost of goods or services. Government financial assistance makes products more affordable for consumers.

Flashcard 2: Identify the policy: Government reduces expenditure to control inflation.

Answer: Contractionary fiscal policy. Government cuts spending and raises taxes to reduce inflationary pressure.

Flashcard 3: Identify the policy: Government reduces expenditure to control inflation.

Answer: Contractionary fiscal policy. Government cuts spending and raises taxes to reduce inflationary pressure.

Flashcard 4: Which ideology supports public ownership of resources?

Answer: Socialism. Economic system where government or community owns means of production.

Flashcard 5: Which political ideology supports free markets and private ownership?

Answer: Capitalism. Economic system emphasizing individual ownership and market competition.

Flashcard 6: Which economic ideology supports high public sector involvement?

Answer: Social democracy. Political system combining democratic governance with extensive social welfare programs.

Flashcard 7: What economic ideology emphasizes minimal government intervention?

Answer: Laissez-faire. French term meaning 'let it be' - free market operates without interference.

Flashcard 8: What is the primary focus of Keynesian economic policy?

Answer: Stimulating demand to achieve full employment. Based on theory that government spending can counter economic downturns.

Flashcard 9: What is the primary economic concern of socialism?

Answer: Redistribution of wealth to achieve equality. Economic system prioritizing collective ownership and income equality.

Flashcard 10: Which ideology supports public ownership of resources?

Answer: Socialism. Economic system where government or community owns means of production.

Flashcard 11: Identify the economic concept: Using tariffs to protect domestic industries.

Answer: Protectionism. Trade policy using taxes on imports to shield local businesses.

Flashcard 12: What is the economic effect of a subsidy?

Answer: Reduces the cost of goods or services. Government financial assistance makes products more affordable for consumers.

Flashcard 13: Which economic theory advocates for supply-side tax cuts?

Answer: Reaganomics. Named after Reagan's 1980s policy of cutting taxes to boost economic growth.

Flashcard 14: Identify the economic system based on supply and demand.

Answer: Market economy. Economic system where prices determined by supply and demand forces.

Flashcard 15: Identify the policy: Government regulates business practices.

Answer: Regulatory policy. Government rules and oversight to ensure fair business practices and consumer protection.

Flashcard 16: What economic concept involves pooling resources for common benefit?

Answer: Collectivism. Economic approach emphasizing shared ownership and cooperative decision-making.

Flashcard 17: What is the economic term for reducing government regulations?

Answer: Deregulation. Removing government rules to allow more business freedom and competition.

Flashcard 18: What is the primary economic concern of socialism?

Answer: Redistribution of wealth to achieve equality. Economic system prioritizing collective ownership and income equality.

Flashcard 19: What is the primary goal of economic nationalism?

Answer: Protect domestic industries from foreign competition. Economic policy prioritizing domestic production over international trade.

Flashcard 20: What is the main characteristic of a command economy?

Answer: Centralized government control over production. Government makes all economic decisions about production and distribution.

Flashcard 21: What does 'privatization' involve in economic terms?

Answer: Transferring public assets to private ownership. Selling government-owned enterprises to private companies or investors.

Flashcard 22: Which policy advocates for balanced government budgets?

Answer: Fiscal conservatism. Philosophy emphasizing reduced government spending and debt reduction.

Flashcard 23: What is the economic term for reducing government regulations?

Answer: Deregulation. Removing government rules to allow more business freedom and competition.

Flashcard 24: Identify the policy tool: Adjusting interest rates to influence the economy.

Answer: Monetary policy. Federal Reserve controls money supply and credit through interest rate changes.

Flashcard 25: What is the economic impact of a progressive tax system?

Answer: Higher earners pay a larger percentage of their income. Tax rates increase with income levels to promote wealth redistribution.

Flashcard 26: What economic concept involves pooling resources for common benefit?

Answer: Collectivism. Economic approach emphasizing shared ownership and cooperative decision-making.

Flashcard 27: Identify the economic term: Government support for failing industries.

Answer: Bailout. Emergency financial assistance to prevent company or industry collapse.

Flashcard 28: What does 'privatization' involve in economic terms?

Answer: Transferring public assets to private ownership. Selling government-owned enterprises to private companies or investors.

Flashcard 29: Identify the policy: Government regulates business practices.

Answer: Regulatory policy. Government rules and oversight to ensure fair business practices and consumer protection.

Flashcard 30: Identify the fiscal policy tool: Government increases taxes.

Answer: Revenue generation. Taxation increases government income to fund public services and programs.

Flashcard 31: Which policy involves government programs aimed at reducing poverty?

Answer: Welfare policy. Social safety net programs providing assistance to economically disadvantaged.

Flashcard 32: What is the primary goal of economic nationalism?

Answer: Protect domestic industries from foreign competition. Economic policy prioritizing domestic production over international trade.

Flashcard 33: Identify the economic term: Government support for failing industries.

Answer: Bailout. Emergency financial assistance to prevent company or industry collapse.

Flashcard 34: Which ideology advocates for minimal taxation and regulation?

Answer: Libertarianism. Political philosophy emphasizing maximum individual freedom and minimal state power.

Flashcard 35: Which policy advocates for balanced government budgets?

Answer: Fiscal conservatism. Philosophy emphasizing reduced government spending and debt reduction.

Flashcard 36: Which policy involves government borrowing to finance deficits?

Answer: Deficit financing. Government issues bonds or takes loans to cover budget shortfalls.

Flashcard 37: Identify the policy tool: Adjusting interest rates to influence the economy.

Answer: Monetary policy. Federal Reserve controls money supply and credit through interest rate changes.

Flashcard 38: What does the term 'deficit spending' refer to?

Answer: Government spending exceeds revenue. Government borrows money to fund expenditures beyond current income.

Flashcard 39: Which economic theory advocates for supply-side tax cuts?

Answer: Reaganomics. Named after Reagan's 1980s policy of cutting taxes to boost economic growth.

Flashcard 40: Identify the concept: Government ownership of major industries.

Answer: Nationalization. Government takes control of privately-owned businesses or sectors.

Flashcard 41: What is the economic rationale for progressive taxation?

Answer: Ensure equitable contribution based on ability to pay. Higher earners contribute more to support public services and reduce inequality.

Flashcard 42: Identify the economic concept: Using tariffs to protect domestic industries.

Answer: Protectionism. Trade policy using taxes on imports to shield local businesses.

Flashcard 43: What is the monetary policy tool used to control inflation?

Answer: Interest rate adjustments. Central bank raises rates to reduce money supply and price levels.

Flashcard 44: Which ideology emphasizes equal distribution of wealth?

Answer: Socialism. Economic system advocating for collective ownership and wealth redistribution.

Flashcard 45: What is the main characteristic of a command economy?

Answer: Centralized government control over production. Government makes all economic decisions about production and distribution.

Flashcard 46: What is the primary goal of fiscal policy?

Answer: Managing economic growth through government spending and taxation. Government uses budget tools to stabilize economic fluctuations.

Flashcard 47: What is the main focus of trade liberalization?

Answer: Reducing trade barriers and tariffs. Policy promoting international trade through reduced trade restrictions.

Flashcard 48: Which ideology emphasizes equal distribution of wealth?

Answer: Socialism. Economic system advocating for collective ownership and wealth redistribution.

Flashcard 49: What is the economic rationale for progressive taxation?

Answer: Ensure equitable contribution based on ability to pay. Higher earners contribute more to support public services and reduce inequality.

Flashcard 50: What does the term 'deficit spending' refer to?

Answer: Government spending exceeds revenue. Government borrows money to fund expenditures beyond current income.

Flashcard 51: Which economic policy is used to control the money supply?

Answer: Monetary policy. Central bank controls currency circulation and credit availability in economy.

Flashcard 52: Which policy involves government programs aimed at reducing poverty?

Answer: Welfare policy. Social safety net programs providing assistance to economically disadvantaged.

Flashcard 53: What is the monetary policy tool used to control inflation?

Answer: Interest rate adjustments. Central bank raises rates to reduce money supply and price levels.

Flashcard 54: Which political ideology supports free markets and private ownership?

Answer: Capitalism. Economic system emphasizing individual ownership and market competition.

Flashcard 55: What is the goal of antitrust laws?

Answer: Prevent monopolies and promote competition. Legal measures to break up large companies and maintain market competition.

Flashcard 56: Which economic ideology opposes government welfare programs?

Answer: Libertarianism. Political philosophy favoring minimal government intervention in personal and economic matters.

Flashcard 57: Which economic policy focuses on long-term infrastructure investment?

Answer: Public investment. Government spending on infrastructure, education, and long-term economic development.

Flashcard 58: What is the main focus of trade liberalization?

Answer: Reducing trade barriers and tariffs. Policy promoting international trade through reduced trade restrictions.

Flashcard 59: Identify the economic system based on supply and demand.

Answer: Market economy. Economic system where prices determined by supply and demand forces.

Flashcard 60: Identify the economic policy: Government spends to boost the economy.

Answer: Expansionary fiscal policy. Government increases spending and cuts taxes to stimulate economic activity.

Flashcard 61: Which ideology advocates for minimal taxation and regulation?

Answer: Libertarianism. Political philosophy emphasizing maximum individual freedom and minimal state power.

Flashcard 62: What is the primary focus of Keynesian economic policy?

Answer: Stimulating demand to achieve full employment. Based on theory that government spending can counter economic downturns.

Flashcard 63: Which economic ideology opposes government welfare programs?

Answer: Libertarianism. Political philosophy favoring minimal government intervention in personal and economic matters.

Flashcard 64: Identify the concept: Government ownership of major industries.

Answer: Nationalization. Government takes control of privately-owned businesses or sectors.

Flashcard 65: What economic ideology emphasizes minimal government intervention?

Answer: Laissez-faire. French term meaning 'let it be' - free market operates without interference.

Flashcard 66: Identify the economic policy: Government spends to boost the economy.

Answer: Expansionary fiscal policy. Government increases spending and cuts taxes to stimulate economic activity.

Flashcard 67: What is the impact of a regressive tax system?

Answer: Higher burden on lower-income individuals. Lower earners pay higher percentage of income, creating inequality.

Flashcard 68: Which economic policy is used to control the money supply?

Answer: Monetary policy. Central bank controls currency circulation and credit availability in economy.

Flashcard 69: Which economic ideology supports high public sector involvement?

Answer: Social democracy. Political system combining democratic governance with extensive social welfare programs.

Flashcard 70: Which economic policy focuses on long-term infrastructure investment?

Answer: Public investment. Government spending on infrastructure, education, and long-term economic development.

Flashcard 71: What is the economic impact of a progressive tax system?

Answer: Higher earners pay a larger percentage of their income. Tax rates increase with income levels to promote wealth redistribution.

Flashcard 72: Which policy involves government borrowing to finance deficits?

Answer: Deficit financing. Government issues bonds or takes loans to cover budget shortfalls.

Flashcard 73: What is the goal of antitrust laws?

Answer: Prevent monopolies and promote competition. Legal measures to break up large companies and maintain market competition.

Flashcard 74: Identify the fiscal policy tool: Government increases taxes.

Answer: Revenue generation. Taxation increases government income to fund public services and programs.