Examlex
Which of the following is NOT a primary feature of the new welfare program (PRWORA) enacted in 1996?
Shortage/Surplus
A market condition where the quantity demanded is greater than the quantity supplied (shortage) or the quantity supplied is greater than the quantity demanded (surplus).
Price Floor
A government or group-imposed limit that prevents prices of goods or services from falling below a certain level.
Shortage/Surplus
A condition in a market where the quantity demanded is greater or less than the quantity supplied at the current price.
Elasticity of Demand
A measure of how much the quantity demanded of a good responds to a change in the price of that good, with all other things being equal.
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