Since Its Inception in 1996, the Temporary Assistance for Needy

question 253

Multiple Choice

Since its inception in 1996, the Temporary Assistance for Needy Families (TANF) program

• A)increased, rather than reduced, the number of people on welfare.
• B)reduced the number of people on welfare significantly until the recession of 2007-08 swelled the number of recipients.
• C)aided the poor by automatically increasing welfare payments when inflation occurs.
• D)greatly increased the unemployment rate.

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Definitions:

Prisoner's Dilemma

A standard example of a game analyzed in game theory that shows why two completely rational individuals might not cooperate, even if it appears that it is in their best interest to do so.

Nash Equilibrium

A concept in game theory where no participant can gain by changing only their own strategy, assuming other participants' strategies remain unchanged.

Homogeneous Oligopoly

A market structure where a few firms offer products or services that are essentially identical and thus are substitutes for each other.

Oligopolistic Industries

Sectors characterized by a small number of large firms that have significant control over market prices and competition.