The Supplemental Nutrition Assistance Program (SNAP):
A. was previously known as the food-stamp program.
B. added assistance to the food-stamp program by targeting children.
C. was created to supplement the food consumption of low-income Social Security recipients.
D. has been subject to widespread fraud through the illegal reproduction of paper food-stamp
coupons.
Answer: A
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Since 1970, the U.S. federal government had a budget surplus
A) in almost every year. B) in a few years in the 1990s. C) only once, in 2008. D) The U.S. federal government has not had a budget surplus since 1970.
In the above figure, if no government intervention occurs, at the unregulated competitive market equilibrium, there is an
A) external marginal benefit of $2. B) external marginal cost of $2. C) external marginal benefit of $1. D) external marginal cost of $3.