Chapter 39 - Equity and redistribution of income and wealth Flashcards
1
Q
Equality
A
Where everyone is treated in the same way.
2
Q
Extreme Poverty
A
Where a household exists on less than $1.90 a day.
3
Q
Relative Poverty
A
Where household income is 50% or less than the average income
4
Q
Means Tested Benefits
A
Benefits that are paid only to those whose incomes fall below a certain level.
5
Q
Poverty Trap
A
Where an individual or a family is better off on means-tested benefits rather than working.
6
Q
Universal Benefits
A
Benefits available to all irrespective of income or wealth.
7
Q
Universal Basic Income
A
A regular unconditional cash payment made by the government.
8
Q
Negative Income Tax
A
Money paid out by the government to those earning below an agreed annual fixed benefit limit.
