Social insurance is distinguished from public assistance, or welfare, by the fact that:
A. All social insurance benefits are paid in cash while all public assistance benefits are paid in kind (food, housing, medical care)
B. An individual acquires a right to social insurance benefits by meeting objective eligibility criteria while public assistance benefits are determined according to individual need
C. The total amount paid in benefits is much larger in the public assistance programs than in the social insurance programs
D. Payroll taxes are used to finance public assistance programs while general revenues are used to finance social insurance programs
B. An individual acquires a right to social insurance benefits by meeting objective eligibility criteria while public assistance benefits are determined according to individual need
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An economy with an expansionary gap will, in the absence of stabilization policy, eventually experience a(n) ________ in the inflation rate, leading to a(n) ________ in output.
A. decrease; increase B. increase; increase C. decrease; decrease D. increase; decrease
According to this Application, the recession in 1981 was caused by
A) the government cutting back on aggregate demand to reduce inflation. B) increasing oil prices which resulted in a decrease in aggregate supply. C) massive immigration from Europe to the United States. D) an decrease in aggregate supply resulting from U.S. bank collapses.
What is depreciation, and what happens to the depreciation line when the rate of depreciation increases or decreases?
What will be an ideal response?
All but which one of the following could be expected to result from rent controls?
a. an increase in housing b. substandard housing c. waiting lists for housing d. a decline in apartment construction e. black market in housing