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Chapter 18 - Chapter 18 Social Safety nets 1 Key Terms a...

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Chapter 18: Social Safety nets: 1. Key Terms: a. Safety nets: i. Government programs that protect the minimum standard of living of families and individuals against loss of income b. Welfare State: i. A government with a broad set of safety net programs c. Markey economy: i. Another term for capitalism d. New Deal: i. President Franklin Roosevelt’s programs for economic recovery, income support, and business regulation during the great depression e. Social insurance: i. Government programs that provide series or income support in proportion to the amount of mandatory contributions made by individuals to a government trust fund. f. Means-tested: i. Meeting the criterion of demonstrable need g. Public assistance: i. Programs funded by general tax funds that provide money or service for the poor families; has benefit time limits and a work requirement h. Medicaid: i. Program administered by the states that pays for health care services for the poor; jointly funded by the federal government and the states i. Entitlements:
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i. Government benefits that are distributed automatically to citizens who qualify on the basis of a set of guidelines set by law; for example, Americans over the age of 65 are entitles to Medicare coverage.
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