Lesson 10 The Role of Government - #10 The Role of...

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#10: The Role of Government Key Terms: Deregulation: The opening of a market to more competition by eliminating government regulations originally put in place to limit competition. Welfare State: A philosophy that government should intervene to help people who are poor, sick, or unemployed as well as provide equal access to education, healthcare and social services. Social Welfare Safety Net: Government programs, such as Employment Insurance (EI) and the Child Tax Credit, established to help vulnerable Canadians. Transfer Payments: Direct payments from governments to other governments or to individuals; a mechanism for providing social security, income support and alleviation of regional disparities. Marginal Tax Rate: The tax rate paid on an income in an individual’s income. Universality: A principle of the Canadian welfare state specifying that some benefits, such as healthcare, should be available to all citizens regardless of income.
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