A study by Kathryn Edin and Laura Lein found that
A. virtually all single mothers—whether working or receiving public assistance—had to supplement their income with money from relatives, boyfriends, or the absent father of their children.
B. most welfare families lived very comfortably on their public assistance checks, supplemented by Medicaid, public housing, and food stamps.
C. only half the number of Americans officially below the poverty line were actually poor.
D. government assistance hurt the poor much more than it helped the poor.
A. virtually all single mothers—whether working or receiving public assistance—had to supplement their income with money from relatives, boyfriends, or the absent father of their children.
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Adverse selection is due to
A) hidden characteristics. B) hidden actions. C) symmetric information. D) moral hazard.
Creating a market that was previously "missing":
A. redistributes surplus from buyer to seller. B. creates more total surplus. C. redistributes surplus from seller to buyer. D. redistributes surplus from one market to the one that was previously missing.