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4. Suppose that welfare (TANF) benefits are structured in the following way in a state: Annual Annual Family TANF Income Benefit 0 $5,052 $2,000 4.892
4. Suppose that welfare (TANF) benefits are structured in the following way in a state: Annual Annual Family TANF Income Benefit 0 $5,052 $2,000 4.892 $4,000 3.292 $5,000 2,492 $6,000 1,692 $7,000 892 $8,000 0 A. Show the structure of the TANF benefit system on a diagram. [8 points] B. Compute both the TANF benefit level and the implicit tax rate if annual family income is: (i) $1,000; and (ii) $6,500. [7 points ]
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