Leo is a welfare recipient who qualifies for two means-tested cash benefit programs. If he does not earn any income, he receives $225 from each program. For each dollar he earns (which his employer is required to report to the welfare agency), his benefit from each program is reduced by 75 cents until the benefit equals zero. If Leo earns $150, then he will receive ________ in total benefits from the two programs.
A. $225.
B. $325.
C. $75.
D. 0.
Answer: A
You might also like to view...
The key distinction that separates endangered resources from sustainable resources is the nature of
A) externalities. B) transactions costs. C) property rights. D) overall consumption.
The market for fish is perfectly competitive. So, the price elasticity of demand for fish from a single fishing boat
A) is less than the elasticity of demand for fish overall. B) equals the elasticity of demand for fish overall. C) is greater than the elasticity of demand for fish overall. D) is sometimes greater than and sometimes less than the elasticity of demand for fish overall.
Based on the table "Real and Nominal GDP," if year one is the base year, then the GDP deflator for year three is ________
A) 165 B) 139.8 C) 85.8 D) 133.6 E) 114.6
Which was the deepest recession in the United States before the recession of 2008-09?
A) 1978-1979 B) 1981-1982 C) 1990-1991 D) 2001