Each of the Following Is a Provision of the 1996

question 8

Multiple Choice

Each of the following is a provision of the 1996 welfare reform law except that

• A)the federal guarantee of cash assistance for poor children is ended.
• B)the head of every welfare family would have to work within 2 years or the family would lose benefits.
• C)after receiving welfare for two months adults must find jobs or perform community service.
• D)women who have more children while on welfare will have their benefits reduced.

---

Definitions:

Royalties

Payments made by one party to another for the right to use intellectual property, such as music, books, or patents, on an ongoing basis.

Creative Destruction

Creative destruction is an economic concept describing the process by which new innovations lead to the demise of older technologies or businesses, thereby fostering growth and economic progress.

Economic Profits

The difference between total revenue and total costs, including both explicit and implicit costs, indicating the financial gain in excess of the opportunity costs.

Production Costs

Expenses incurred in the process of creating or manufacturing a product, including materials, labor, and overhead costs.