Describe four of the five major income maintenance programs in the United States that were discussed in the text
What will be an ideal response?
Answer: The Social Security program has helped maintain income for the elderly, while the Supplemental Security Income and Temporary Assistance to Needy Families have provided benefits for those who do not qualify for Social Security. Food stamps subsidize food consumption for many people, and the Earned Income Tax Credit Program provides rebates of Social Security taxes to low-income workers.
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Which of the following is NOT a reason for the weak recovery following the 2007-2009 recession?
A) Recessions started by financial crises are almost always severe. B) The decline in the automobile industry appeared to be structural. C) The collapse of the housing market was long lived. D) The recession was caused by a decline in short-run aggregate supply.
A current account deficit is
A) good because a country wants to own the others. B) bad because every country should have a surplus. C) good because it allows to smooth consumption. D) it does not matter.