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Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364

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BuyFindarrow_forward

Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364
Textbook Problem

Briefly explain the differences between TANF, the earned income tax credit, SNAP, and Medicaid.

To determine

Difference between TANF, the earned income tax credit (EITC), SNAP and Medicaid.

Explanation

U.S. government has taken steps to implement several programs to help those below the poverty line and those fall in the category of “near-poor” i.e. the ones who have income just above the poverty line.

Some of these programs are: Temporary Assistance for Needy Families (TANF), Earned Income Tax Credit (EITC), Supplemental Nutrition Assistance Program (SNAP), Medicaid, etc.

The aim of TANF was to provide cash payment to mothers who have children and fall below the poverty line. The fed government provides a fixed sum of money to each state...

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