Which of the following income maintenance programs is designed to establish nationwide minimum incomes for the aged, the blind, and the disabled?
A. the food stamps program
B. the Old-Age Survivors' and Disability Insurance (OASDI) program
C. the Supplemental Security Income (SSI) program
D. the Temporary Assistance to Needy Families (TANF) program
Answer: C
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Refer to Exhibit 9-7. Which point is representative of the economy experiencing labor market surpluses?
The reward for the capture of Jesse James was $500.00 in 1881. Suppose the CPI in 1881 was 0.25. What is the real value of the reward in 2010 dollars if the CPI was 218.1 in 2010?
What will be an ideal response?
The aggregate supply-aggregate demand model predicts that the short-run effect of an unexpected decrease in taxes is:
a. A decrease in the price level and an increase in real output. b. An increase in both the price level and real output. c. An increase in the price level and a decrease in real output. . d. A decrease in both the price level and real output. e. No effect on the price level and a decrease in real output.
The market system automatically corrects a surplus condition in a competitive market by:
A. Raising the price of the commodity in question while increasing the quantity demanded B. Raising the price of the commodity in question while decreasing the quantity demanded C. Reducing the price of the commodity in question while increasing the quantity demanded D. Reducing the price of the commodity in question while decreasing the quantity demanded