Chapter 18: Problem 9
Each of the following is a major source of great wealth except __________.( \(\mathrm{O2})\) a) earning large salaries b) starting up new companies c) owning real estate d) receiving an inheritance
Chapter 18: Problem 9
Each of the following is a major source of great wealth except __________.( \(\mathrm{O2})\) a) earning large salaries b) starting up new companies c) owning real estate d) receiving an inheritance
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Get started for freeThe Earned Income Tax Credit is __________. (LO6) a) a form of welfare b) a refund check paid to the working poor by the Internal Revenue Service c) a very minor form of government aid to the poor d) opposed by both liberals and conservatives
The largest government program aimed exclusively at helping the poor is __________.(LO6) a) the Earned Income Tax Credit b) public assistance c) food stamps d) Social Security
Which one of the following has been the least effective antipoverty program __________? (LO6, 10) a) the Welfare Reform Act of 1996 b) Social Security c) food stamps d) the Earned Income Tax Credit
Which statement is true? (LO1,2) a) If we redistributed income every year so that everyone would get the same amount, this would hurt the efficiency of our economy. b) Virtually everyone agrees that we should redistribute most of the income received by the rich to the poor. c) The poor get a great deal more satisfaction from each additional dollar of income than the rich. d) There is no relationship between the distribution of income and economic incentives.
Which statement is the most accurate? (LO5, 6) a) The welfare rolls today are much lower than they were in \(1996 .\) b) About one in nine Americans lives below the poverty line. c) Without Social Security benefits, at least 75 percent of all senior citizens would be poor. d) The Welfare Reform Act of 1996 has cut the poverty rate by almost 60 percent.
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