The U.S. welfare system was revised by a 1996 law that
a. consolidated all of the previous assistance programs into a single program.
b. limited the amount of time that people could receive assistance.
c. said it was no longer necessary for poor people to demonstrate an additional "need," such as small children or a disability, to qualify for assistance.
d. turned all federally-run welfare programs over to the states.
b
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Refer to Figure 11-16. The figure above illustrates a series of isoquants. Which of the following statements is true?
A) Points z and y represent the same output; this output is produced with more capital at z than at y. B) Point z represents a greater output than point x or point y. C) Points x, z, and y all represent the same output. D) Point x and y represent the same output but the cost of production at y is greater than the cost of production at x.
Higher protection raises the overall level of employment
Indicate whether the statement is true or false
Because the benefits derived from an activity decline as it is expanded, it is generally
a. wise to undertake all actions that generate benefits. b. efficient to stop well before perfection is achieved. c. best to continue as long as it is possible to derive some additional benefits. d. unwise to engage in activities for which the benefits decline as you do more of it.
A nation's market-risk premium is related directly to the:
a. Volatility of central bank policies due to unpredictable changes in major macroeconomic variables. b. Volatility of a company's cash flows due to predictable and quantifiable changes in major macroeconomic variables. c. Unpredictable changes in market structure, such as shifts from pure competition to oligopoly or oligopoly to monopoly. d. A company's inability to market products in a recession or period of general disruption. e. Volatility of a company's cash flows due to unpredictable changes in major macroeconomic variables.