Since the War on Poverty was started in 1965, the United States has spent more than $12 trillion on income maintenance programs. The effect has been to
A) reduce poverty levels substantially.
B) reduce poverty levels moderately.
C) have virtually no effect on poverty levels.
D) increase poverty substantially.
Answer: C
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In the United States it is clear that if a dollar were diverted from present consumption to present investment, the return on that investment would be ________ to reward the deferral of consumption, meaning that overall economic welfare would rise
with ________ in national saving. A) insufficient, an increase B) insufficient, a decrease C) more than sufficient, an increase D) more than sufficient, a decrease
Rent controls
a. Is an example of price floors b. Is an example of price ceilings c. Destroy wealth by preventing the movement of apartments to higher-valued use. d. Both b and c