Needs-tested spending is best described as
A) spending on programs that entitle qualified persons and businesses to receive benefits.
B) spending on programs that have been tested in some manner.
C) spending on programs that have proven over time to be sound investments.
D) spending on programs that are considered necessities (needed) according to surveys of the public.
E) not spending at all but a reference to the reliability of budget.
A
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If the Fed wished to decrease interest rates, it could
A) increase the reserve requirement or conduct an open market sale. B) increase the reserve requirement or conduct an open market purchase. C) decrease the reserve requirement or conduct an open market sale. D) decrease the reserve requirement or conduct an open market purchase.
Suppose you observe that output in an industry occurs on the inelastic part of the market demand curve. Which of the following can you conclude from this?
A. The industry is definitely behaving as a monopoly that is protected by barriers to entry. B. The industry is definitely not behaving as a monopoly that is protected by barriers to entry. C. The industry could be perfectly competitive. D. The industry is definitely not perfectly competitive. E. Both (a) and (d) F. Both (b) and (c) G. Both (b) and (d) H. None of the above