Calculate the average benefit a Medicare recipient receives. Instructions: Round your response to the nearest dollar. Calculate the average benefit a recipient of food stamps receives. Instructions: Round your response to the nearest dollar. $ Policy Perspectives Refer to the table to answer one question. Income Transfers: The market mechanism might leave some people with too little income and others with too much. The government uses taxes and transfers to redistribute income more fairly. Program Recipient Group Number of Recipients Value of Transfers Social Security Retired and disabled 67 million $1,002 billion workers Medicare Individuals over age 65 59 million $620 billion Medicaid Medically needy 75 million $400 billion individuals Unemployment compensation Unemployed workers 6 million $30 billion Food stamps Low-income 42 million households $63 billion Eamed Income Tax Credit Low-wage workers 30 million $70 billion Temporary Aid to Needy Families Poor families 3 million $17 billion
Calculate the average benefit a Medicare recipient receives. Instructions: Round your response to the nearest dollar. Calculate the average benefit a recipient of food stamps receives. Instructions: Round your response to the nearest dollar. $ Policy Perspectives Refer to the table to answer one question. Income Transfers: The market mechanism might leave some people with too little income and others with too much. The government uses taxes and transfers to redistribute income more fairly. Program Recipient Group Number of Recipients Value of Transfers Social Security Retired and disabled 67 million $1,002 billion workers Medicare Individuals over age 65 59 million $620 billion Medicaid Medically needy 75 million $400 billion individuals Unemployment compensation Unemployed workers 6 million $30 billion Food stamps Low-income 42 million households $63 billion Eamed Income Tax Credit Low-wage workers 30 million $70 billion Temporary Aid to Needy Families Poor families 3 million $17 billion
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter15: Poverty And Economic Inequality
Section: Chapter Questions
Problem 6SCQ: A group 0f 10 people have the following annual incomes:...
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