In 1996, the Personal Responsibility Act:
A. transferred responsibility for welfare programs from the state to the federal level.
B. established the earned income tax credit (or EITC).
C. increased the federal minimum wage.
D. placed a five-year lifetime limit on welfare payments to any given recipient.
Answer: D
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If wealth increases, the demand for stocks ________ and that of long-term bonds ________, everything else held constant
A) increases; increases B) increases; decreases C) decreases; decreases D) decreases; increases
As a result of the financial deregulation that allowed banks to issue new types of interest-bearing checking accounts
A) people are less willing to hold M1 at a given interest rate on alternative assets. B) the demand for money M1 curve became more stable. C) the demand for money M1 curve became vertical. D) the demand for money M1 curve will shift to the right.
A ______ economy is an economy where government and the private sector together determine the allocation of resources.
a. traditional b. command c. mixed d. market
Henry deposits $2,000 in currency in the First Street Bank. Later that same day Jane Harris negotiates a loan for $5,400 at the same bank. After these transactions, the supply of money has:
A. Increased by $2,100 B. Increased by $3,300 C. Increased by $5,400 D. Decreased by $3,300