The accumulation of reserves in insurance and pension funds is referred to as what type of savings?
A)voluntary savings
B)contractual savings
C)real savings
D)all of the above

Question

Quizplus · Accepted Answer

The accumulation of reserves in insurance and pension funds is considered contractual savings because individuals enter into contracts with these institutions and agree to make regular contributions in exchange for future payouts or benefits. Voluntary savings refer to individuals saving their own money outside of any contractual obligations, and real savings refer to the actual physical resources (e.g. tools, land, etc.) used to produce goods and services.

The Accumulation of Reserves in Insurance and Pension Funds Is