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the percentage of the population whose family income falls below an absolute level called the poverty line
an absolute level of income set by the federal government for each family size below which a family is deemed to be in poverty
transfers to the poor given in the form of goods and services rather than cash
the regular pattern of income variation over a person's life
a person's normal income
the political philosophy according to which the government should choose policies that maximize total utility of everyone in society
a measure of happiness or satisfaction
the political philosophy according to which the government should choose policies deemed to be just, as evaluated by an impartial observer behind a "veil of ignorance"
the claim that the government should aim to maximize the well-being of the worst-off person in the economy
the political philosophy according to which the government should punish crimes and enforce voluntary agreements but not redistribute income
government programs that supplement the incomes of the needy
negative income tax
a tax system that collects revenue from high-income households and gives transfers to low-income households
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