Essentials of Economics

Krugman, Paul; Wells, Robin

4th ed.

New York: Worth Publishers, Macmillan Learning, 2017

p. 315

Then we look at the two main programs in the United States: income support programs, of which Social Security is by far the largest, and health care programs, dominated by Medicare and Medicaid, but with the Affordable Care Act playing a growing role.

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p. 325

Second, the table distinguishes between programs that provide monetary transfers that beneficiaries can spend as they choose and those that provide in-kind benefits, which are given in the form of goods or ser-vices rather than money.

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p. 422

The rights of owners of valuable items to dispose of those items as they choose are called property rights. A subset, intellectual property rights, are the rights of an innovator to accrue the rewards of her innovation.

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p. 291

When individuals take externalities into account when making decisions, economists say that they internalize the externality.

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p. 404

More recently, the rise of internet sales has hurt traditional retailers of all kinds.

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