Which Program Was Introduced in 1990 and Replaced the Means-Tested

question 88

Multiple Choice

Which program was introduced in 1990 and replaced the means-tested program that was called Aid to Families and Dependent Children (AFDC) ?

• A)Social Security
• B)Medicare
• C)food stamps
• D)Temporary Assistance to Needy Families

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Definitions:

LRAC Curve

Stands for Long-Run Average Cost curve, which shows the lowest average cost at which a firm can produce any given level of output in the long term when all inputs are variable.

Decreasing-Cost Industry

An industry in which production costs decrease as the industry grows and output increases, often due to economies of scale.

LRAC Curve

The Long-Run Average Cost curve, showing the lowest possible cost of producing different levels of output when all inputs are variable.

Increasing-Cost Industry

An industry where production costs increase as output grows, often due to resource limitations or regulatory constraints.