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Author Question: Explain how the Social Security program is partly an insurance plan and partly a form of welfare. ... (Read 112 times)

jjjetplane

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on: Jul 1, 2018
Explain how the Social Security program is partly an insurance plan and partly a form of welfare.
 
  What will be an ideal response?

Question 2

In a market with positive externalities
 
  A) the efficient level of production is less than what competition will obtain.
  B) the efficient level of production is equal to what competition will obtain.
  C) the efficient level of production is more than what competition will obtain.
  D) there cannot be an efficient level of production.


stanleka1

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Reply #1 on: Jul 1, 2018
Answer to Question 1

Social Security is an insurance program to the extent that individuals pay contributions into the system and receive benefits in the future in proportion to their current contributions. Social Security is partly a redistributive program because payments to beneficiaries are not made in proportion to taxes paid. For example, married couples with one working spouse receive higher benefits relative to contributions than a single individual having made identical lifetime contributions.

Answer to Question 2

C


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