Eight statements regarding the redistribution of income expenditure programs are provided. Match the given statement to theprogram that best describes the statement. Each program will contain more than one statement.Social SecurityPublic assistanceSupplemental SecurityIncome (SSI)Elderly who are very poor qualify for this program.Answer BankThis program is mainly for families with minor children, very low income, and practically no other financial assets.Unemployment compensationThis program includes disabled individuals and provides health insurance.The vast majority of workers must participate in this program, which has greatly reduced the poverty level in this group.There is a five-year, lifetime limit for receiving benefits from this program, which was implemented in 1996.With respect to these benefits, a worker on average would receive about 36% of their normal wages according to Case, Fair, and Oster (2012).Unlike other programs for the elderly, this program is not paid by the beneficiaries of the program.Those who receive benefits from this program need to have been employed for some time and have earned a certain level of income.

Public Assistance: This program is targeted at families with minor children, very low income, and…

Eight statements regarding the redistribution of income expenditure programs are provided. Match the given statement to the program that best describes the statement. Each program will contain more than one statement. Social Security Public assistance Supplemental Security Income (SSI) Unemployment compensation

Eight statements regarding the redistribution of income expenditure programs are provided. Match the given statement to the program that best describes the statement. Each program will contain more than one statement. Social Security Public assistance Supplemental Security Income (SSI) Unemployment compensation

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Similar questions

Which of the following government spending categories falls into the discretionary category SNAP payments (suuplemental nutrition assistance program, colloquially known as food stamps) medicaid payments O salaries of employees of the Bureau for Economic Analysis O social security payments
Which of the following does not explain the rise in income inequality in the United States during the past four decades? An increase in minimum wages. Increased international trade with low-wage countries. Changes in technology. All of these answers have contributed to the rise in income inequality. A reduction in the demand for unskilled labor.
Some states exclude necessities, such as food andclothing, from their sales tax. Other states do not.Discuss the merits of this exclusion. Consider bothefficiency and equity.
As of 2016, social insurance tax on a typical worker’s income is calculated as ___ of the worker’s pretax paycheck amount. Only ____ of that amount is actually deducted from the worker’s paycheck. The other ____ is paid by the employer. Self-employed individuals, however, must pay the full ____ themselves. For Social Security, though not for Medicare, the amount of income taxed is capped. The cap for 2016 is ____. Answer Choices: 5.1% 7.65% 10.2% 15.3% $118,000 $125 $133 700 900
1. Income inequality and the poverty rate The following table summarizes the income distribution for the town of Perkopia, which has a population of 10,000 people. Every individual within an income group earns the same income, and the total annual income in the economy is $500,000,000. Suppose that in 2007, the poverty line is set at an annual income of $42,350 for an individual. Year Lowest Quintile Second Quintile 2001 2007 2013 2019 3.0 3.4 3.8 5.0 Share of Total Income in Perkopia (Percent) 8.6 9.4 9.7 11.0 The data in the table suggest that there was Middle Quintile Fourth Quintile 14.0 14.6 15.2 15.5 21.9 22.4 22.9 25.0 Highest Quintile 52.5 50.2 48.4 43.5 income inequality from 2001 to 2019. MacBook Pro Complete the following table to help you determine the poverty rate in Perkopia in 2007. To do this, begin by determining the total income of all individuals in each quintile using the fact that total annual income in the economy is $500,000,000. Next, determine the income of an…
A top challenge for government programs that seek to reduce poverty is:
In the government of a country's budget the finance minister proposed to raise the tax on cigarettes. He also proposed to increase income tax on individuals earning more than $100,000 per annum. What possible welfare objective can you think of from these proposals?
MACROECONOMICS Progressive Tax Based on your yearly income above, calculate the amount of tax each income bracket would pay under a progressive tax plan. Each row up to the total income amount should be filled in. For an example of a completed chart, go to Page 4 of Lesson 05.03: Sharing with Uncle Sam. Calculate the tax for $95,000. For example, $10,000x40%-%$4,000 in tax. Show your work!! Proposed Regressive Plan Calculate the tax for S25,000. For example, $10,000x40%=$4,000 in tax. Show your work!! 10% on income up to $25,000 20% on income between S25,000 and S34,000 25% on income between S34,000 and S44,000 30% on income between $44,000 and S80,000 40% on taxable income over S80,000 TOTAL TAX PAID (sum of all rows):
please label the two questions with the correct answers thank you