Social Security Is

question 193

Multiple Choice

Social Security is

• A) an insurance program operated by the federal government.
• B) a retirement program that invests the person's contributions into interest-earning financial assets so the proceeds can fund the person's retirement.
• C) a social insurance program that guarantees that an elderly person will never fall below the poverty level.
• D) an intergenerational transfer program that only vaguely relates to past earnings.

---

Definitions:

Indifference Curves

Graphical representations of different bundles of goods between which a consumer is indifferent, portraying preferences.

Indifference Curve

A graphical representation showing different bundles of goods between which a consumer is indifferent, reflecting their preferences and utility.

Total Utility

The overall satisfaction or benefit a consumer receives from consuming a particular quantity of a good or service.

Indifference Curve

A graphical representation showing combinations of goods or services among which a consumer is indifferent, meaning they have no preference for one combination over another, holding utility constant.