Nongrant Forms of Aid to Individuals, Notably Through the Social

question 3

Multiple Choice

Nongrant forms of aid to individuals, notably through the Social Security system: Medicaid payments, purchases by the national government; and wages and salaries of federal employees represent approximately:

• A)36 percent of total federal grants today, down from 63 percent in 1980.
• B)the same percent of federal grants today as they did in 1980.
• C)63 percent of total federal grants today, up from 36 percent in 1980.
• D)a smaller percentage of federal grants today then in 1980.

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Definitions:

Specific Tax

A tax that is levied as a fixed amount per unit of a good or service, rather than as a percentage of the price.

Price Elasticity

Measures the responsiveness of the quantity demanded of a good to a change in its price.

Consumer Surplus

The difference between the total amount that consumers are willing and able to pay for a good or service and the total amount they actually do pay.

Easton Bats

A brand known for manufacturing sports equipment, particularly high-quality baseball and softball bats.