Which one of the following would increase income inequality as measured by official Census data and the quintile distribution?
A. A doubling of Social Security retirement benefits.
B. The elimination of the SNAP program.
C. The elimination of the TANF program.
D. Reduced divorce rates.
Answer: C
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Congress has divided the authority to police mergers between the Antitrust Division of the U.S. Department of Justice (AD) and the Federal Trade Commission (FTC). How is this authority divided?
A) The AD always renders its opinion on any proposed merger first. If the AD approves the merger, the case then goes to the FTC for final approval. If the AD disallows the merger, the decision stands and the FTC does not become involved. B) Both the AD and the FTC are responsible for merger policy. C) The AD establishes the guidelines that are used to evaluate proposed mergers; the FTC uses these guidelines to decide whether a proposed merger will be allowed to take place. D) The AD decides whether proposed horizontal mergers will be challenged; the FTC decides whether proposed vertical mergers will be challenged.
If average cost is falling, then marginal cost must be less than average cost.
Answer the following statement true (T) or false (F)
The sensitivity of one economic variable to changes in another variable is known as
a. the variability coefficient b. elasticity c. the sensitivity coefficient d. the cross-variability coefficient e. the law of demand
Unlike recent events in England, the United States has no recent history of bank failures
a. True b. False Indicate whether the statement is true or false