Government Ch. 13

Front 1

measure of economic performance in terms of the nation's total production of goods and services for a single year, valued in terms of market prices

Back 1

gross domestic product

Front 2

fluctuation in real GDP growth followed by contraction

Back 2

economic cycles

Front 3

percentage of the civilian labor force who are not working but who are looking for work or waiting to return or to begin a job

Back 3

unemployment rate

Front 4

the buying and selling of goods and services between individuals or firms located in different countries

Back 4

international trade

Front 5

a policy of high tariffs and quotas on imports to protect domestic industries

Back 5

protectionism

Front 6

a policy of reducing or eliminating tariffs and quotas on imports to stimulate international trade

Back 6

free trade

Front 7

taxes on individuals' wages and other earned income, the primary source of revenue for the U.S. federal government

Back 7

individual income tax

Front 8

system of taxation in which higher income groups pay a larger percentage of their incomes in taxes than do lower income groups

Back 8

progressive taxation

Front 9

system of taxation in which lower income groups pay a larger percentage of their incomes in taxes than do higher income groups

Back 9

regresive taxation

Front 10

system of taxation in whcih all income groups pay the same percentage of their income in taxes

Back 10

proportional (flat) taxation

Front 11

offical standard regarding what level of annual cash income is sufficient to maintain a "decent standard of living"; those with incomes below level are eligible for most public assistance programs

Back 11

poverty line

Front 12

people who have remained poor and dependent on welfare over a prolonged period of time

Back 12

underclass

Front 13

social welfare programs to which beneficiaries have made contributions so that they are entitled to benefits regardless of their personal wealth

Back 13

social insurance programs

Front 14

those social welfare programs for which no contributions are required and only those living in poverty (by offical standards) are eligible; include food stamps, Medicaid, and Family Assistance

Back 14

public assistance programs

Front 15

any social welfare progam for which there are eligibilty requirements, whether financial or contributory

Back 15

entitlements

Front 16

social insurance program composed of the Old Age and Survivors Insurance program, which pays benefits to retired workders who ahve paid into the program and their dependents and survivors, and the Disiabilty Insurance program, whcih pays benefits to disabled workers and their families

Back 16

Social Security

Front 17

social insurance program that temporarily replaces part of the wages of workers who have lost their jobs

Back 17

unemployment compensation

Front 18

public assistance program that provides monthly cash payments to the needy elderly (sixty-five or older), blind, and disalbed

Back 18

Supplemental Security Income (SSI)

Front 19

public assistance program that provides monies to the states for their use in helping needy families with children

Back 19

family assistance

Front 20

public assistance program that provides low-income households with coupons redeemable for enough food to provide a minimal nutritious diet

Back 20

food stamp program

Front 21

tax refunds in excess of tax payments for low-income workders

Back 21

earned income tax credit (EITC)

Front 22

public assistance program that provides health care tothe poor

Back 22

medicaid

Front 23

welfare reform program replacing federal cash entitlement with grants to the states for welfare recipients

Back 23

temporary assistance to needy families

Front 24

programs designed to keep health care costs down by the establishment of strict guidelines regarding when and what diagnostic and therapeutic proceudres should be administered to patients under various circumstances

Back 24

managed care

Front 25

groups of hospitals and physicians who ahve joined together to offer their services to private insurers at a discount

Back 25

preferred provider organizations (PPOs)

Front 26

health care provider groups that provide a stipulated list of services to patients for a fixed fee that is usually substantially lower than such care would otherwise cost

Back 26

health maintenance organizations (HMOs)

Front 27

social insurance program that provides health care insurance to elderly and disabled people

Back 27

medicare