1/ Transfer payments in goods and services in lieu of cash are called __________

Question

1/ Transfer payments in goods and services in lieu of cash are called ________________.

2/ Food stamps are now electronic and are referred to as SNAP, which is an acronym for __________________________________________.

3/ The relationship between work and welfare creates a trade-off rate reducing benefits by working. That rate of welfare reduction is called the ______________________

4/ The progressive benefit structure of Social Security is based on a three tier _______________________

5/ If poor people don’t want to work should they receive welfare? What about their children? Discuss.________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________

6/ Discuss the pros and cons of in-kind transfers.________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________

Explanation / Answer

(1) Transfer payments in goods and services in lieu of cash are called Credits

(2) Food stamps are now electronic and are referred to as SNAP which is an acronym for Electronic benefit transfer

(3) The relationship between work and welfare creates a trade-off rate reducing benefits by working. That rate of welfare reduction is called the poverty trap.

(4) The first tier is a general revenue funded anti-poverty.. The second tier is a largely unfunded social insurance defined benefit plan. The third tier is a voluntary funded occupational pension plan (Banting and Boadway 1996).

(5) The poor people not willing to work must be given education so that they become literate and earn by themselves. Their children must be given free education to make their future bright.

(6) The advantage of in-kind transfers it helps ineasy transaction of money through cash mode or online mode.

The disadvantage of in-kind transfers the credit may take time to take place on ce the transaction takes place online.

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