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11 Cards in this Set
- Front
- Back
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welfare state |
the collection of government programs designed to help economic hardship |
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government transfer |
a govt payment to an individual or family |
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poverty program |
govt program designed to help the poor |
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social insurance program |
a govt program designed to provide protection against unpredictable financial distress |
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mean household income |
the average income across all households |
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gini coefficient |
a number that summarizes a country's level of income inequality based on how unequally income is distributed across quintiles |
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means tested program |
a program available only to individuals or families whose incomes fall below a certain level |
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in kind benefit |
benefit given in the form of goods or services |
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negative income tax |
a program that supplements the income of low income working families |
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private health insurance |
each member of a large pool of individuals pays a fixed amount annually to a private company that agrees to pay most of the medical expenses of the pool's members |
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single-payer system |
a health care system in which the govt is the principle payer of medical bills funded through taxes |
