Describe the two major categories of public assistance
What will be an ideal response?
The first major category of public assistance is Temporary Assistance for Needy Families (TANF). To participate in TANF, a family must have very low income and virtually no assets. Benefits are set by the states and vary greatly. Beneficiaries of TANF who begin working lose benefits quickly as their incomes rise. The other category of public assistance is called general assistance and it provides benefits to the very poor regardless of family circumstances.
You might also like to view...
Which of the following explains why the demand for loanable funds is negatively related to the real interest rate?
A) A lower real interest rate makes more investment projects profitable. B) Consumers are willing to spend less and hence save more at higher real interest rates. C) Interest rate flexibility in financial markets assures an equilibrium in which saving equals investment. D) All of the above are reasons why the demand for loanable funds is negatively related to the real interest rate.
Define GNI or Gross National Income
What will be an ideal response?
Which of the following statement is normative?
A. Higher taxes are needed to support education. B. A large budget surplus is likely to lower interest rates. C. Trade deficits frequently occur in conjunction with budget deficits. D. The interest rate increases are the result of Federal Reserve actions to decrease the money supply.
The purchasing power parity method of comparing income levels across countries
What will be an ideal response?