Which of the Following Is True Regarding Temporary Assistance to Needy

question 64

Multiple Choice

Which of the following is true regarding Temporary Assistance to Needy Families:

• A) Eligible families can receive financial assistance for many years
• B) Most states spend more than they did on AFDC
• C) Some recipients can continue to receive Medicaid after leaving the program
• D) It encourages an increase in family size

Understand the impact of education on moving between labor markets.

Understand the concept of economic rent in relation to wages and property.

Distinguish between primary and secondary labor markets and their characteristics.

Analyze the impact of minimum wage laws on employment and wages.

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Definitions:

Implicit Costs

Additional costs that do not appear on the financial statements of a company. These costs include items such as the opportunity cost of capital.

Economic Profits

Profits that exceed the opportunity costs of all resources used by the firm, including both explicit and implicit costs.

Sunk Costs

Costs that cannot be recovered. They are unavoidable even in the long run.

Economic Environment

The economic environment consists of all the external economic factors that influence buying habits, business operations, and growth prospects of entities.