Providing a Safety Net Review Questions

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South University, Savannah *

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3002

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Economics

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Feb 20, 2024

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docx

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Providing a Safety Net Review Questions Anas Nachit 3rd ---------------- What is welfare? Welfare refers to government programs and policies designed to support the well-being of individuals and families in society. These programs usually provide financial assistance, like unemployment benefits, food stamps, or healthcare, to help those in need. Why does welfare exist? It basically serves as a safety net for the people. Welfare aims to reduce poverty, ensure basic living standards, and promote economic stability. It is a fundamental aspect of social and economic policy. It exists to promote economic and social stability. What is the difference between cash transfers and in-kind benefits? Cash transfers are direct monetary payments to individuals or families, allowing them to spend the money as they see fit. In-kind benefits, on the other hand, provide specific goods or services, like food or healthcare, rather than cash. Cash transfers offer recipients more flexibility, while in- kind benefits ensure that the assistance is used for particular purposes. The choice between the two depends on policy goals How does Temporary Assistance to Needy Families differ from past welfare programs? Temporary Assistance to Needy Families is different from past welfare programs because it gives federal money to state governments, allowing them to create their own welfare programs. States have to follow federal rules that promote work and set limits on how long people can receive benefits, which was not the case with older welfare programs. This change aims to encourage self-sufficiency and give states more control over their welfare policies. What is Social Security? Social Security is a federal government program in the United States that provides financial assistance to retired and disabled individuals, as well as survivors of deceased workers. What is the poverty threshold? Why does it vary according to how many people are in the household? The poverty threshold is the income level used to determine if an individual or family is considered to be living in poverty in the United States. It varies based on the number of people in a household because larger households typically require more income to cover basic living expenses like food, housing, and clothing.
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