In General,a Major Goal of Clinton's 1996 Personal Responsibility and Work

question 50

Multiple Choice

In general,a major goal of Clinton's 1996 Personal Responsibility and Work Opportunity Reconciliation Act was to:

• A) get people back into the labor market as soon as possible.
• B) shift the responsibilities of running welfare programs away from individual states.
• C) increase government assistance for those in poverty.
• D) expand employment opportunities in government and civil service.

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Definitions:

Total Utility

The total satisfaction received from consuming a certain quantity of goods or services.

Increasing Marginal Utility

A situation in which each additional unit of a good or service consumed provides more utility or satisfaction than the previous one.

Diminishing Marginal Utility

The economic principle stating that as a person consumes more of a good, the additional satisfaction gained from each additional unit of that good decreases.

Risk-Averse

A condition where an individual prefers outcomes with known probabilities over outcomes with unknown probabilities, typically avoiding higher risk.