If You Save More Because Social Security Allows You to Retire

question 42

Multiple Choice

If you save more because Social Security allows you to retire earlier than you would have retired had Social Security neither taxed you nor provided you with benefits, then this is referred to by economists as the

• A)slovenly effect.
• B)bequest effect.
• C)induced retirement effect.
• D)asset substitution effect.

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Definitions:

Ceded

The act of giving up power or territory, often as a result of negotiating after a conflict or a treaty.

New Code of Laws

Revised or brand-new legislative measures that are established to govern specific areas, often replacing outdated or ineffectual rules.

Legal Rights

Legal rights are entitlements and protections granted to individuals under the law, which can include rights to property, fair trial, free speech, and privacy.

Abigail Adams

An influential figure in American history, wife of President John Adams, known for her early advocacy of women's rights and opposition to slavery.