Final answer:
To know who collects fewer applications to reach $300 first in economics, we must consider marginal benefits and costs. This involves analyzing government policies tailored to encourage work and mitigate poverty traps, while also caring for the least well off in society.
Step-by-step explanation:
To determine who needs to collect fewer applications to reach $300 first, we can compare the rates at which different individuals or entities are collecting money. This seems to be a problem related to economics, as it involves the analysis of policies affecting the distribution of resources. Considering whether each family in need of assistance should receive $70 or $700 a month is a matter of evaluating the marginal benefit and marginal cost associated with each option.
The government aims to optimize the impact of its spending, especially considering constraints like those related to the poverty trap. Reducing government payments by a dollar for every dollar earned can discourage work, but reducing payments by a smaller amount, imposing work requirements, and setting time limits on benefits are strategies to mitigate such effects.