Which of the following about Social Security is true?
a. The regressive nature of the Social Security benefit formula works to the advantage of groups with below average earnings.
b. Groups with an below average life expectancy gain from Social Security because they will typically draw retirement benefits over a more lengthy period of time.
c. The life expectancy of Hispanics at age 20 is generally lower than the figures for whites and blacks.
d. Hispanics derive a higher return from their Social Security taxes than whites, and substantially higher than blacks.
D
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The Fed issues bonds to raise money and uses it to finance the U.S. government's budget deficit
a. True b. False
According to the Taylor rule:
A. for every 1 percentage point that unemployment exceeds the natural rate of unemployment, there is a 2-percentage-point gap between potential and actual GDP. B. growth in the money supply should be limited to the long-run average growth rate of real GDP. C. if inflation rises by 1 percentage point above its target, then the Fed should raise the real federal funds rate by one-half a percentage point. D. the rate of money growth should be set at 4 percent per year.