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| The percentage of the population whose family income falls below an absolute level called the poverty line |
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| An absolute level of income set by the federal government for each family size below which a faily is deemed to be in poverty |
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| transfers to the poor givien in the form of goods and services rather than cash |
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Definition
| The regular pattern of income variation over a person's life |
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Definition
| A person's normal, average income |
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| the movement of people among income classes |
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| The political philosophy according to which the government should choose policies to maximise the total utility of everyone in society |
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| A measuer of happiness of satisfaction |
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Definition
| The political philosophy according to which the government should choose policies deemed just, as evaluated by an impartial observer behind a "veil of ignorance." |
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| the claim that the government should aim to maximize the well-being of the worse-off person in society |
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| Government policy aimed at protective people against the rise of adverse events |
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Definition
| The political philosophy according to which the government should punish crimes and enforce voluntarty agreements but not redistribute income |
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Definition
| A tax system that collects revenue from high-income households and gives subsides to low-income households |
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