If the Social Security Program Was Privatized

question 61

Multiple Choice

If the Social Security program was privatized,

• A)Work disincentives for younger workers would definitely increase.
• B)Income inequalities would definitely decrease.
• C)Individuals would essentially make contributions to their own pension fund.
• D)The system would be financed on a pay-as-you-go basis.

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Definitions:

Micro

Refers to small-scale or minute aspects of something, often used in scientific and economic contexts.

Macro

Referring to large-scale or overall system levels, often used in opposition to micro, which focuses on smaller, individual elements.

Global Social Structures

The overarching patterns and systems that shape societies and cultures around the world, influencing how people interact on a global scale.

Postindustrial Revolution

A phase of societal development marked by a shift from manufacturing-based economies to ones dominated by service, information, and technology sectors.