Which is the most accurate statement about the Personal Responsibility and Work Opportunity Act of 1996?
A. The decline in the welfare rolls since the mid-to-late 1990s was due entirely to this law.
B. This law was directly responsible for throwing millions of the poor out on the street.
C. The law validated President Clinton's promise "to put an end to welfare as we know it."
D. The law had very little success in removing people from the welfare rolls.
C. The law validated President Clinton's promise "to put an end to welfare as we know it."
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If oligopolistic firms successfully cooperate with each other, _____
a. they may act like a monopoly and increase their prices b. they may act like a monopoly and increase their output c. they may act like perfectly competitive firms and earn normal profits d. they may act like a monopolistic firm and earn economic profits
Which of the following statements is true?
A. International capital-flow shocks have domestic effects under fixed exchange rates but not under floating exchange rates. B. A domestic monetary shock is less disruptive with floating exchange rates. C. With floating exchange rates, the transmission of business cycles through foreign trade and repercussion is less than with fixed exchange rates. D. If foreign capital is highly responsive to changes in interest rates, then domestic spending shocks are less disruptive with fixed exchange rates.
A system of accounts that measures the transactions of goods, services, income, and financial assets between domestic households, businesses, and governments and residents of the rest of the world during a specific time period is the
A) capital account. B) current account. C) balance of payments. D) balance of trade.
By summing the quantities demanded by individuals at each price we obtain the
A) equilibrium price. B) market demand curve. C) market supply curve. D) individual demand curve.