there called radius arms and i can see where you can be confused, but they do a very different job. there job is to locate the axle during its range of motion and nothing else.
a good and cheap leveling kit for older rangers is the f150 factory coil spacer. gives you about a 1.5" lift in the front and should level your truck. again an alignment might be needed or you may have enough adjustment left to bring the truck back into spec. check this out, all the info on budget lifting:
The Ranger Station - Technical Library
good source that answers allot of questions, especially for older rangers.
Form follows Function
1994 Mazda B4000 4x4, Ford Camper Shell FTW, 31x10.5 Duratrac's, 15x8 Daytona's