
The Economic Way of Thinking 13th Edition by David Prychitko, Peter Boettke, Paul Heyne
Edition 13ISBN: 9780132992695
The Economic Way of Thinking 13th Edition by David Prychitko, Peter Boettke, Paul Heyne
Edition 13ISBN: 9780132992695 Exercise 4
"Entitlement programs" of the federal government are defined as "programs that provide benefit payments for individuals whose eligibility is determined by law." Because the criteria for eligibility are established by existing law, expenditures are not controlled by the process of congressional appropriation.
(a) Would you say that the beneficiaries of entitlement programs receive income because of certain property rights?
(b) The criteria for some entitlement programs are outside the range of the beneficiaries' choice: Payments based on age are an example, as are veterans' benefits. Other programs use criteria that persons can more or less choose to satisfy. Would you expect the law of demand to affect the rate at which expenditures increase in this second category?
(a) Would you say that the beneficiaries of entitlement programs receive income because of certain property rights?
(b) The criteria for some entitlement programs are outside the range of the beneficiaries' choice: Payments based on age are an example, as are veterans' benefits. Other programs use criteria that persons can more or less choose to satisfy. Would you expect the law of demand to affect the rate at which expenditures increase in this second category?
Explanation
An entitlement program based on certain ...
The Economic Way of Thinking 13th Edition by David Prychitko, Peter Boettke, Paul Heyne
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