The Temporary Assistance for Needy Families (TANF) program:
A. Put a limit on receiving welfare payments and required able-bodied adults to work after receiving assistance for two years
B. Increased the number of people receiving welfare benefits and the amount of the assistance
C. Required businesses to monitor low-income workers and used Federal funds to supplement their pay
D. Required the use of food stamps for food purchases by families, but permitted cash assistance to be given to the elderly
A. Put a limit on receiving welfare payments and required able-bodied adults to work after receiving assistance for two years
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The figure above shows how the PPF for cell phones and new cell-phone factories can expand. In the figure, if the economy chose the point on this year's PPF that is above point K, the next year's PPF would
A) shift inward along the vertical axis. B) shift inward along the horizontal axis. C) shift outward along the horizontal axis farther than the new PPF shown in the figure. D) shift outward along the vertical axis, not along the horizontal axis. E) shift outward along the horizontal axis, but not as far as the new PPF shown in the figure.
A person with diminishing marginal utility of wealth is risk averse
a. True b. False Indicate whether the statement is true or false