The Social Security System
A) pays benefits to people which are directly related to how much they contributed during working years.
B) collects money from an individual and uses the accrued interest on those funds to pay the person's retirement benefits.
C) is based on a "pay-as-you-go" principle.
D) All of the above.
C
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In the traditional Keynesian model, an increase in government spending leads to all of the following EXCEPT
A) a higher price level. B) an increase in aggregate demand. C) an increase in consumption. D) higher real GDP.
Which of the following statements about demand is true?
a. The demand curve for a group of consumers in a market is simply the horizontal summation of each individual's demand. b. The single demand curve shows the quantity of a good that people will buy, allowing all factors (price, income, expected future prices, etc.) to vary. c. An increase in income will cause a person to move down and to the right along her demand curve. d. All of the above are true.