Many Consider the Social Security Act to Be the Foundation

question 12

True/False

Many consider the Social Security Act to be the foundation of the American welfare state.

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Definitions:

Contractual Agreement

A legally binding agreement between two or more parties, outlined in a document, that is enforceable by law.

FDIC

The Federal Deposit Insurance Corporation, a U.S. government agency that insures deposits in banks and thrift institutions for at least $250,000 per depositor, per bank.

Restrictive Indorsement

An endorsement on a negotiable instrument, like a check, that limits its use, such as specifying that the instrument must be deposited into a particular account.

Negotiates

The act of discussing something formally to reach an agreement, often in business or diplomatic discussions.