a consistent increase in the general level of prices

the government's use of taxing, monetary, and spending powers to manipulate the economy

Federal Reserve efforts to regulate the economy through the manipulation of the supply of money and credit

Government regulation of large businesses that have established monopolies

a policy whose objective is to tax or spend in such a way as to reduce the disparities of wealth between the lowest and the highest income brackets

taxation that hits upper-income brackets more heavily

taxation that hits lower-income brackets more heavily

the amount by which government spending exceeds government revenue in a fiscal year

the total amount of money the government has borrowed

government grants of cash or other valuable commodities, such as land, to an individual or an organization; used to promote activities desired by the government, reward political support,or bu off political opposition.

the power of government to set conditions on companies seeking to sell goods or services to government agencies

a system of 12 Federal Reserve banks that facilitates exchanges of cash, checks, and credit, regulates member banks, and uses monetary policies to fight inflation and deflation

a single firm in a market that controls all the goods and services of that market; absence of competition

a policy of reducing or eliminating regulatory restraints on the conduct of individuals or private institutions

an economic system in which the means of production and distribution are privately owned and operated for profit with minimal or no government interference.

economists who argue that the government can stimulate the economy by increasing public spending or by cutting taxes

an economic theory that posits that reducing the marginal rate of taxation will create a productive economy by promoting levels of work and investment that would otherwise be discouraged by higher taxes

the collection of policies a nation has to promote and protect the economic and social well-being of its citizens

a contributory welfare program into which working Americans contribute a percentage of their wages and from which they receive cash benefits after retirement (age 62) or if they become disabled

social programs financed in whole or in part by taxation or other mandatory contributions by their present or future recipients

a form of national health insurance for the elderly and the disabled

a periodic process of adjusting social benefits or wage to account for increases in the cost of living

social programs that provide assistance to people on the basis of demonstrated need rather than any contribution they have made

a procedure by which potential beneficiaries of a social assistance program establish their eligibility by demonstrating a genuine need for the assistance

A federally and state-financed, state operated program providing medical services to low-income people

a widely shared American ideal that all people should have the freedom to use whatever talents and wealth they have to reach their fullest potential

noncash goods and services provided to needy individuals and families by the federal government

the largest antipoverty program, which provides recipients with a debit card for food at most grocery stores; formerly known as food stamps

What are the three separate categories of welfare?