One argument offered by economists for having a Social Security system is that if there were no Social Security, workers might
A. save too much.
B. work too long.
C. overestimate the value of retirement.
D. decide to use welfare as a retirement income, pushing the costs off onto others.
Answer: D
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Figure 10-4
In Figure 10-4, if full employment occurs at an output level of 4,000 and the economy is currently at an output level of 5,000 then we can expect a(n)
a.
increase in autonomous consumer spending that shifts the aggregate demand curve to the left.
b.
increase in wages that will shift the aggregate supply curve to the left.
c.
decrease in investment spending that shifts the aggregate demand curve to the left.
d.
decrease in wages that will shift the aggregate supply curve to the left.
The distribution of wealth in the United States is such that it:
A. is randomly distributed among income classes. B. has no perceptible impact on the distribution of income. C. reduces income inequality. D. contributes to income inequality.