Transfer Payments: Welfare and Social Security
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- - Know the impact of transfer payments in the United States.
- - Be able to distinguish between cash transfers and "in-kind" transfers.
- - Understand the role of human capital and derived demand in the poverty dilemma.
- - Know what the basic government welfare programs are, which level of government administers them, and who is eligible for the various programs.
- - Be able to describe the work disincentive that results from the welfare program and Social Security.
- - Understand how welfare eligibility changes as income increases.
- - Be able to describe how a welfare recipient's real income changes as money income increases.
- - Know some of the recent initiatives to reform the welfare system and Social Security.
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