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Terms in this set (24)
medicare a federal health insurance program primarily designed to provide healthcare
coverage to individuals aged 65 & older, or people with disabilities.
social security act created in 1935
Created the social security program and a national assistance program for poor
families, usually called the Aid to Families with Dependent Children.
Laissez Faire The principle that the government should not meddle in the economy
Keynesian economic theory economic theory of total spending in the economy and its effect on output,
employment, and inflation
supply-side economics a macro theory that economic growth is best created by lowering taxes,
decreasing regulation, and using free-market policies to boost production.
-Focuses on boosting long-term economic growth by increasing labor, supply,
productivity, and investment.
excise tax an indirect tax on specific goods services and activities like gasoline, alcohol,
tobacco, and airline tickets
Key U.S. Social Welfare, Economic Policies, and Federal Agencies.pdf Key U.S. Social Welfare, Economic Policies, and Federal Agencies.pdf Key U.S. Social Welfare, Economic Policies, and Federal Agencies.pdf