Describe four of the five major income maintenance programs in the United States that were discussed in the text
What will be an ideal response?
The Social Security program has helped maintain income for the elderly, while the Supplemental Security Income and Temporary Assistance to Needy Families have provided benefits for those who do not qualify for Social Security. Food stamps subsidize food consumption for many people, and the Earned Income Tax Credit Program provides rebates of Social Security taxes to low-income workers.
You might also like to view...
Use the following diagrams for the U.S. economy to answer the next question.
Which of the diagrams best portrays the effects of an increase in foreign spending on U.S. products and an expansion?
A. Graph (1) B. Graph (2) C. Graph (3) D. Graph (4)
Which are social costs associated with the inability of shareholders to observe an executive's effort? (You may choose more than one.) a. Excessive insurance offered
b. The executive has to be exposed to risk to induce effort, and risk is costly. c. The executive ends up exerting less than first-best effort. d. Excessive effort induced.
If total planned expenditures exceed real GDP, the economy will contract, causing production of goods and services to decrease and unplanned inventories to rise
a. True b. False Indicate whether the statement is true or false
A monopolistic competitive firm’s quantity produced is which of the following?
a. Greater than a monopolist but less than a perfect competition firm b. Less than a monopolists but greater than a perfect competition firm c. Greater than a monopolists and greater than a perfect competition firm d. Less than a monopolists and less than a perfect competition firm