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8 Cards in this Set

  • Front
  • Back

Medicare

-A Federal program funded by a payroll tax providing health insurance to elderly over 65 and disabled persons under 65.


-largest public health insurance program in U.S.


-for citizens who have worked 10 years and paid payroll taxes.

Medicaid

-Federal and state program funded by general tax revenues.


-provides health care for poor families, elderly, and disabled.


-federally mandated, state administered


-little cost sharing, low premiums.

Personal Responsibility and Work Opportunity Reconciliation Act of 1996 (PRWORA)

- dramatically reshapedcash and food welfare programs and helped reduce federal welfare spending.


-a performance bonus to reward states for moving welfare recipients into jobs


- before states receive matching grants; after implementation states received a lump sum block grant to provide time limited benefits to a broader range to low income families.

International Trade Model (Internal Operations)

-currency (banking system)


-disbribution


-hospitals


-labor


-trade agreements


-transportation/port


-product supply

International Trade Model (External Operations)

-G7/G8


-WHO


-NATO


-WTO


-WB


-AAIB


-International Labor Org


-IMF


-EU/USA/China


-private banks



Iron triangle

TBA

EU


BRICS v. PIGS

EU- 28 member countries which are bound by trade and can trade freely.


BRICS-Brazil, Russia, India, China, South Africa (emerging markets)


-1/2 world's pop


PIGS- Portugal, Italy, Greece, Spain (declining markets)

Elasticity

-Responsiveness or sensitivity to a change in price. See graphs


Elastic > 1


Inelastic < 1


Unitary elastic =1


Calculate = %∆ in Q (d or s)


_________________


%∆ in price