In 1996,President Clinton Signed the Promised Welfare Reform Bill into Law.It

question 78

Multiple Choice

In 1996,President Clinton signed the promised welfare reform bill into law.It was called the

• A)Reinventing Welfare as We Know It Act (RWWKA).
• B)Public Assistance Reform and Control Act (PARCA).
• C)Consolidated Omnibus Benefit Reconciliation Act (COBRA).
• D)Personal Responsibility and Work Opportunity Reconciliation Act (PRWORA).
• E)Welfare to Work Program (W2W).

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Definitions:

Compounded Annually

Refers to the process of applying interest to both the initial principal and the accumulated interest over the past year.

RRSP

A Registered Retirement Savings Plan, a government-approved program in Canada that allows individuals to save for retirement on a tax-deferred basis.

Purchasing Power

The purchasing power of a currency represented through the quantity of goods or services a single unit can acquire.

Equal Monthly Contributions

Regular, identical payments made monthly towards a financial obligation or investment.