The Social Security program is primarily a
a. compulsory retirement income program set up on sound insurance principles.
b. forced-savings program where workers save during their working years and receive the principal and interest on these savings at retirement.
c. program designed to tax current workers in order to provide benefits for current retirees.
d. voluntary savings program run by the government.
C
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If MC's Hammers, a perfectly competitive firm, finds that its total revenue is $45,000 . its fixed cost is $20,000 . and its total cost is $50,000 . its producer surplus is
a. zero because TC > TR b. -$5,000 c. $25,000 d. $15,000 e. -$25,000
Which of the following is incorrect regarding financial intermediaries? a. They link savers and borrowers
b. They earn profits by loaning money. c. They offer lower interest rates on savings than they charge on loans. d. They print money. e. They accept deposits.