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ECO chapter 9

Economics Chapter 9

AB
the use of market forces to clean up the environmentmarket environmentalism
a proposed program designed to reduce the disincentive effects of the current welfare systemnegative income tax
a lawsuit brought against a physician by a patient who claims the physician acted negligently in his or her treatmentmedical malpractice suit
a good for which demand rises as people's income risesnormal good
anyone, other than the patient, who pays a health-care billthird-party payer
a nationwide federal helath insurance program for people over age 65 and for people of all ages with disabilitiesMedicare
a federal and state program that provides health care to low-income individualsMedicaid
the income level below which people areconsidered to be living in povertypoverty line
takes the form of specific goods or services, such as food stamps, subsidized housing, and medical assistancein-kind benefits
The rate at which the negative income tax payment is reduced as earned income risesimplicit marginal tax rate


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