Which of the Following Statements Is Not Correct

question 71

Multiple Choice

Which of the following statements is not correct?

• A) An advantage of an in-kind transfer is that it prevents an alcoholic from spending a cash benefit on alcohol.
• B) An advantage of the Supplemental Security Income (SSI)program is that it benefits the sick and disabled.
• C) An advantage of a negative income tax program is that it encourages the poor to work in order to be eligible.
• D) An advantage of a minimum wage law is that it benefits some unskilled workers.

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Definitions:

Compounded Semi-annually

Interest computation technique where the sum earns interest twice annually, compounding the overall growth over time.

Monthly Payment

A fixed payment amount made by a borrower to a lender at agreed upon intervals, commonly used in loan agreements.

Interest

The cost of borrowing money or the income received from lending money, usually expressed as a percentage of the principal.

Compounded Monthly

The process where interest is calculated and added to the principal sum on a monthly basis.