The Primary Cost of the Social Security Program Is the

question 127

Multiple Choice

The primary cost of the Social Security program is the

• A)Financial costs of administering the program.
• B)Reduction in total output the program causes because of work disincentives.
• C)Redistribution of income from younger to older workers.
• D)Benefits paid.

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Definitions:

Net Income

A financial term representing the profit left after all expenses, taxes, and costs have been subtracted from total revenue.

Income

Money received, especially on a regular basis, for work or through investments.

Expenses

Costs that a business incurs through its operations to generate revenue, including costs of goods sold, rent, utilities, and salaries.

Profit & Loss Statement

A financial report that summarizes the revenues, costs, and expenses incurred during a specific period, typically used to assess a company's financial performance.