罗森 财政学 第七版(英文版)Chap009.docVIP

CHAPTER 9 – Social Insurance I:Social Security and Unemployment Insurance Multiple-Choice Questions 1. A pay-as-you-go system means a) you pay for your dinner as you go to the table to eat. b) current working citizens pay for current retired citizens. c) there is no need for taxes since current workers pay for current retirees. d) retirees are paid from accounts that have accumulated with interest over their working lives. e) all of the above. 2. Asymmetric information generally implies a) information between parties is not equal. b) all parties are fully informed. c) information is costless. d) information is too costly to transmit. e) a and c. 3. A fully funded plan requires a) you to pay for your dinner as you go to the table to eat. b) current working citizens to pay for current retired citizens. c) no taxes since current workers pay for current retirees. d) retirees to be paid from accounts that have accumulated with interest over their working lives. e) all of the above. 4. An actuarially fair return means a) returns on investments are indexed to the stock market. b) returns on investments have to be positive. c) benefits received, on average, would be equal to the premiums paid. d) premiums for insurance are generally paid by the government. e) none of the above. 5. When workers save less during their working lives due to the fact that they have been paying Social Security taxes, this is known as a) the Social Security effect. b) the wealth substitution effect. c) the bequest effect. d) the life cycle hypothesis. 6. The Social Security earnings test a) applies only to workers between 65 and 69 years of age. b) was redesigned in the 1980s to include foreign workers. c) has a tax rate of no more than 16.9 percent. d) does all of the above. 7. Social Security pension benefits are a) subject to income taxes for those with certain income levels. b) nontaxable for all retirees. c) subject to state, but not federal, income taxes. d) subject to capital gains taxes.