Deck 10: Social Insurance Programs

Question 1

The CEO of a company and the janitor of a company pay the same $56 flat tax a year regardless of their income in Unemployment Insurance,although benefits are
Capped and the higher earner receives a smaller portion of previous income.Thus
Unemployment Insurance is a

A)Regressive Tax
B)Progressive Tax
C)Means-Tested benefit
D)Eligibility defined

Answer 1

A

Question 2

The dependency ratio is

A)The number of current workers it takes to support a retired worker.
B)The number of dependents a worker supports for tax exemption purposes.
C)The number of elderly receiving Social Security benefits.
D)The difference between income and Unemployment Insurance benefits.

Answer 2

A

Question 3

Mark lives in a state with very low unemployment rates.He recently lost his job because he refused to work for less than the prevailing wage during a strike at his
Factory.Mark did not participate in the strike.

A)He is ineligible for unemployment benefits.
B)He is eligible for unemployment benefits for 53 weeks.
C)He is eligible for unemployment benefits for 26 weeks.
D)He must get a temporary job in order to qualify for unemployment benefits.

Answer 3

C

Question 4

For what does the current Social Security Act provide?

Question 5

Compare and contrast the opinion of political conservatives and political liberals on
Social Security.Explain.

Question 6

John has recently become unemployed.In terms of the policies discussed in this chapter,he is better off in

A)A state with a much lower unemployment rate than average.
B)A state with a rich oil industry.
C)A state with a large coastal region.
D)A state with a higher unemployment rate than average.

Question 7

Part time workers are ___ less likely than full-time workers to collect UI benefits.

A)75%
B)33%
C)59%
D)5%

Question 8

Social Security and Medicare payroll taxes taken out of a worker's paycheck equals

A)15.3 percent.
B)12.4 percent.
C)6.2 percent.
D)7.65 percent.

Question 9

By 1996,what percent of U.S.households depended on a monthly Social Security check?

A)5
B)25
C)35
D)43

Question 10

The problem with Social Security is that

A)The federal government borrows from the Social Security trust fund.
B)Too many workers are paying into the system.
C)There are too many new workers.
D)It does not help the target group.

Question 11

Describe how the unemployment benefits system operates.Include eligibility criteria,the reasons for ineligibility,length of eligibility at the federal at state levels,and any other considerations that may be relevant.

Question 12

Discuss the trust funds into which Social Security and Medicare are divided.Include
the names and mechanisms of governance.

Question 13

If Social Security is modified to reflect social assistance and income redistribution goals

A)It will run out of money by 2035
B)It may not be as broadly supported as it is now
C)The recipients of Social Security benefits will be happier
D)People will have more control of their own money

Question 14

Provide the reasons that Social Security is considered a "stellar example of a
program that has worked." Are these reasons valid? Why or why not?

Question 15

The Bush plan would have

A)Diverted some payroll taxes into private accounts that workers could invest in the stock market.
B)Restructured Social Security to allow workers under age 35 to divert a portion of their Social Security payroll taxes into private investment accounts.
C)Assured poor workers of higher returns.
D)Turned the US into a Socialist country.

Question 16

Social Security benefits will begin to exceed tax collections in

A)2030.
B)2019.
C)2009.
D)2050.

Question 17

The poverty rate among the elderly is currently

A)40 percent.
B)9 percent.
C)22 percent.
D)32 percent.

Question 18

Women are less likely to receive Unemployment Insurance benefits because they

A)Are more likely to be employed by temporary agencies than are men.
B)Are more likely to make very high wages than men.
C)Aren't likely to quit their jobs.
D)Are eligible for TANF benefits.

Question 19

The Bush Plan to modify Social Security was unlikely to garner enough political support to pass because

A)Old people do not like to change tradition.
B)Old people did not vote for Bush and thus were unlikely to support any of his policies.
C)Republicans do not support any policies that affect older Americans.
D)Older people vote and they do not like their income support fiddled with.