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16 Cards in this Set
- Front
- Back
- 3rd side (hint)
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The minimum yearly income that a family must have in order to meet its basic needs
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Poverty Line
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Cutoff point between income needed to meet basic needs & self sustaining income level
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A nonprofit organization that accepts donations in money, goods, & volunteer's time, & then provides aid to needy people
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Charity
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The role of Habitat for Humanity or Salvation Army is
_________. |
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A program meant to prevent poverty; i.e., SSI, Workman's Compensation, Unemployment Insurance & Medicare
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Social Insurance Program
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Programs developed during the Great Depression under FDR to help those in poverty
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A program that provides income, housing and health insurance to individuals & families who cannot work
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Social Welfare Program
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This program has been changed to Workfare & tries to teach job skills & wean people off the benefits
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A way to measure how well the needs and wants of citizens are being met by a country's economic system
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Standard of Living
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One's ability to purchase goods and services with income
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A person who loves humankind
and shows this love through charitable acts. |
Philanthropist
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Examples: Andrew Carnegie donated millions of dollars to libraries, universities & museums for the public
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The Government collects taxes from individuals and redistributes some of these funds in the form of welfare
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Redistribution of Income
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Taking from the working class and giving to the poor
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An organization that provides money to families in need (i.e., food stamps, wick program )
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Aid to Families with Dependant Children (AFDC)
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Gives aid in the form of direct payments, food stamps or infant formula
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Helps people over 65 yrs. pay for hospital bills & doctor's care; includes Medicaid (health insurance)
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Medicare
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Addresses needs of retired people's health care
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President from Texas who implemented the Great Society Movement to win the "War on Poverty" in America
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Lyndon B. Johnson
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His wife was called "Ladybird"
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The percentage of people who live in households with income below the official poverty threshold.
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Poverty Rate
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Percentage of people under the Poverty Threshold
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The income level below which income is insufficient to support a family or household
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Poverty Threshold
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Also called the Poverty Line
It has increased due to cost of inflation from $2,525 (1970) to $10,634 (1998) for a family of 2. |
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How the nation's total income is distributed among its population
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Income Distribution
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Income spread between upper, middle & lower class individuals
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Lump sums of money given by FED to states such as TANF which prepares welfare recipients for labor force
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Block Grants
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Fund the state run Social Security and Social Insurance Programs
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A program requiring work in exchange for temporary assistance
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Workfare
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To receive payments one must be actively seeking work and cannot turn down a viable offer or benefits will stop
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A graph that illustrates the distribution of income in the economy
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Lorenz Curve
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graphs income distribution of the economy in America
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