Empirical studies indicate that Social Security has
A)Increased the level of personal savings
B)Had a neutral effect on the level of personal savings
C)Reduced the level of personal savings
D)Increased the number of older workers
E)Raised the average age at which workers choose to retire

Question

Quizplus · Accepted Answer

Empirical studies suggest that Social Security reduces the level of personal savings. This is due to the fact that individuals may feel that they do not need to save as much for retirement because they will receive Social Security benefits.

Empirical Studies Indicate That Social Security Has