Poor families are eligible for financial assistance, without having to demonstrate any additional "need,"
a. under the current welfare system and under a negative income tax.
b. under the current welfare system but not under a negative income tax.
c. under a negative income tax but not under the current welfare system.
d. under neither the current welfare system nor under a negative income tax.
c
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A price floor is a price
A) below which a seller cannot legally sell. B) above which a seller cannot legally sell. C) that creates a shortage of the good if it is set above the equilibrium price. D) Both answers A and C are correct. E) Both answers B and C are correct.
The regulation of the prices charged by insurance companies is known as
A) the Federal Register. B) social regulation. C) the market share test. D) economic regulation.
Which of the following will most likely cause a shift in the consumption function?
a. a change in consumer confidence b. a change in national output c. a change in real GDP d. a change in disposable income
The Incentive Principle is an example of:
A. a positive economic principle. B. an economic decision-making pitfall. C. a normative economic principle. D. over-estimating the benefits of an action.