Chapter 21 - Transition and the Safety Net

Question 1

social policies

Answer 1

policies adopted for preserving the well-being of society, for example income maintenance programs, unemployment benefits, and the like

Question 2

safety net

Answer 2

policies designed to maintain a minimum standard of living for the population. Examples are unemployment insurance benefits and and pensions for the elderly

Question 3

job right constraint

Answer 3

a policy, prevalent in command economies, in which full employment would in effect be guaranteed through limitations on firing unneeded workers and the provisions of funds to finance unneeded workers.

Question 4

poverty deficit

Answer 4

amount of funding that would be necessary to raise all those below an established poverty line up to that line

Question 5

Gini coefficient

Answer 5

a standard measure of income that usually expresses the gap between low income earners (say the bottom 10 percent of income earners) and high income earners (say top 10%)