economic stabilizer summary

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Below is the article summary. For the full article, see economic stabilizer.

economic stabilizer, Any of the institutions and practices in an economy that serve to reduce fluctuations in the business cycle through offsetting effects on the amounts of income available for spending (disposable income). The progressive income tax, unemployment compensation, and farm price supports all help stabilize the amount of disposable income, as do family and corporate saving.

social welfare program Summary

Social welfare program, any of a variety of governmental programs designed to protect citizens from the economic risks and insecurities of life. The most common types of programs provide benefits to the elderly or retired, the sick or invalid, dependent survivors, mothers, the unemployed, the