Question 22Assume that every citizen will benefit helping those under the poverty line. Then,○ government intervention cannot improve social well-being.O eliminating taxes aimed at redistributing income will make rich people better off.O taxing the wealthy to raise living standards of the poor can potentially make everyone better off.O private markets can adequately provide charity programs to help the poor, despite free-rider problems.1 pts

Given the assumption that every citizen will benefit from helping those under the poverty line, the…

Answered: Question 22 Assume that every citizen…

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter15: Poverty And Economic Inequality

Section: Chapter Questions

Problem 12SCQ: Which set of policies is more likely to cause a tradeoff between economic output and equality:...

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Here is a second hypothesis: A well-funded social safety net may lead to less regulation of the market economy. Explain why this might be so, and sketch a production possibility curve that shows this tradeoff.
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How does the TANF attempt to loosen the poverty trap?
QUESTION 19 Which of these is NOT a component of the 2016 Social Security reform proposal by Democratic lawmakers? O a. an increase in minimum benefits to 25% above the poverty line b. an increase in benefits by 2% for all recipients O c. a more generous cost-of-living adjustment O d. lower payroll taxes
1. Describe how each of these changes is likely to affect poverty and inequality: a. Incomes rise for low-income and high-income workers, but rise more for the high-income earners b. Incomes fall for low-income and high-income workers, but fall more for high-income earners. 2. Based on the theory of rational ignorance, what should we expect to happen to voter turnout as the Internet makes information easier to obtain? 3. What is the cost of voting in an election? 4. What is the main factor preventing a large community from influencing policy in the same way as a special interest group? 5. How does the TANF attempt to loosen the poverty trap?
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14. True or False? Ohio has expanded Medicaid eligibility so that adult Ohio residents, ages 19-64 with incomes up to about 138% of the Federal Poverty Level qualify. O True O False
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1. How does the government make an equitable/impartial/fair distribution of income? Give an example and why
Inequality, Social Insurance, and Redistribution-End of Chapter Problem Suppose one of your friends says that they pay taxes for no reason because the governmènt just hands cash out to people who do not truly deserve or need it. Your friend then says, "the system would be more productive if they made sure peopl who receive help are the ones who need it." Consider the tools that the government uses to help ensure aid goes to those in need, a. The social safety net programs fall into one of two categories: wealth or income. progressive or regressive. means-based or social insurance. relative or absolute. b. For aid qualification, people receiving aid must meet low income requirements, while aid is designed to insure everyone against bad outcomes. c. Another tool of the U.S. government is to provide transfers, such as SNAP benefits, instead of cash.
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