What is a welfare state?
What will be an ideal response?
A welfare state is the set of insurance, regulation, and transfer programs operated by the government, including unemployment benefits, pensions, and government-run-and-financed health care. In the United States, for example, the welfare state comprises several programs, such as Medicaid and food stamps, which are targeted at the poor.
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Which of the following is not included in the U.S. balance of payments?
a. Gifts from parents residing in foreign countries and paid to students studying at U.S. colleges and universities. b. U.S. government military gifts to foreign governments. c. U.S. aid to Indonesian tsunami victims. d. U.S. corporate gifts to families in foreign nations who were harmed by hurricanes. e. All of the above are included in the balance of payments.
Comment on the problem with this statement: “Of course, there are diminishing marginal returns from adding more workers to a fixed quantity of plant and equipment because additional workers are not as good as initial workers.”
Please provide the best answer for the statement.