The relationship between the social security system and private insurance.

Question

Want to see more full solutions like this?

Answer 1

Question

Chapter ST2, Problem 1CQ

To determine

The relationship between the social security system and private insurance.

Expert Solution & Answer

Explanation of Solution

Social insurance is a government program that provides social security and aid from any losses, such as accident, death, and so forth. It is compulsory that the government has pay to its citizens. It is paid through the tax payment of individuals. Both social and private insurance have similarities and dissimilarities. The similarities are, such as the similarity in wide pooling of risk, specific benefit definitions, definition of eligibility rules and amount coverage, and so on. There are also dissimilarities between them. The private insurance will give its emphasis on the individuals who are under coverage, whereas social security covers all participants. Private insurance is voluntary, and social insurance is mandatory. Therefore, it cannot be said that both insurances have the same principles, and also, it cannot be said that there are no relations.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Students have asked these similar questions

20. Factors 01 pro B. the technological innovations available to companies. A. the laws that regulate manufacturers. C. the resources used to create output D. the waste left over after goods are produced. 21. Table 1.1 shows the tradeoff between different combinations of missile production and home construction, ceteris paribus. Complete the table by calculating the required opportunity costs for both missiles and houses. Then answer the indicated question(s). Combination Number of houses Opportunity cost of houses in Number of missiles terms of missiles J 0 4 K 10,000 3 L 17,000 2 1 M 21,000 0 N 23,000 Opportunity cost of missiles in terms of houses Tutorials-Principles of Economics m health care

In a small open economy with a floating exchange rate, the supply of real money balances is fixed and a rise in government spending ______ Group of answer choices Raises the interest rate so that net exports must fall to maintain equilibrium in the goods market. Cannot change the interest rate so that net exports must fall to maintain equilibrium in the goods market. Cannot change the interest rate so income must rise to maintain equilibrium in the money market Raises the interest rate, so that income must rise to maintain equilibrium in the money market.

Suppose a country with a fixed exchange rate decides to implement a devaluation of its currency and commits to maintaining the new fixed parity. This implies (A) ______________ in the demand for its goods and a monetary (B) _______________. Group of answer choices (A) expansion ; (B) contraction (A) contraction ; (B) expansion (A) expansion ; (B) expansion (A) contraction ; (B) contraction

Answer 2

Question

Chapter ST2, Problem 1CQ

To determine

The relationship between the social security system and private insurance.

Expert Solution & Answer

Explanation of Solution

Social insurance is a government program that provides social security and aid from any losses, such as accident, death, and so forth. It is compulsory that the government has pay to its citizens. It is paid through the tax payment of individuals. Both social and private insurance have similarities and dissimilarities. The similarities are, such as the similarity in wide pooling of risk, specific benefit definitions, definition of eligibility rules and amount coverage, and so on. There are also dissimilarities between them. The private insurance will give its emphasis on the individuals who are under coverage, whereas social security covers all participants. Private insurance is voluntary, and social insurance is mandatory. Therefore, it cannot be said that both insurances have the same principles, and also, it cannot be said that there are no relations.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 3

Question

Chapter ST2, Problem 1CQ

To determine

The relationship between the social security system and private insurance.

Expert Solution & Answer

Explanation of Solution

Social insurance is a government program that provides social security and aid from any losses, such as accident, death, and so forth. It is compulsory that the government has pay to its citizens. It is paid through the tax payment of individuals. Both social and private insurance have similarities and dissimilarities. The similarities are, such as the similarity in wide pooling of risk, specific benefit definitions, definition of eligibility rules and amount coverage, and so on. There are also dissimilarities between them. The private insurance will give its emphasis on the individuals who are under coverage, whereas social security covers all participants. Private insurance is voluntary, and social insurance is mandatory. Therefore, it cannot be said that both insurances have the same principles, and also, it cannot be said that there are no relations.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 4

Question

Chapter ST2, Problem 1CQ

To determine

The relationship between the social security system and private insurance.

Expert Solution & Answer

Explanation of Solution

Social insurance is a government program that provides social security and aid from any losses, such as accident, death, and so forth. It is compulsory that the government has pay to its citizens. It is paid through the tax payment of individuals. Both social and private insurance have similarities and dissimilarities. The similarities are, such as the similarity in wide pooling of risk, specific benefit definitions, definition of eligibility rules and amount coverage, and so on. There are also dissimilarities between them. The private insurance will give its emphasis on the individuals who are under coverage, whereas social security covers all participants. Private insurance is voluntary, and social insurance is mandatory. Therefore, it cannot be said that both insurances have the same principles, and also, it cannot be said that there are no relations.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 5

Chapter ST2, Problem 1CQ

To determine

The relationship between the social security system and private insurance.

Expert Solution & Answer

Explanation of Solution

Social insurance is a government program that provides social security and aid from any losses, such as accident, death, and so forth. It is compulsory that the government has pay to its citizens. It is paid through the tax payment of individuals. Both social and private insurance have similarities and dissimilarities. The similarities are, such as the similarity in wide pooling of risk, specific benefit definitions, definition of eligibility rules and amount coverage, and so on. There are also dissimilarities between them. The private insurance will give its emphasis on the individuals who are under coverage, whereas social security covers all participants. Private insurance is voluntary, and social insurance is mandatory. Therefore, it cannot be said that both insurances have the same principles, and also, it cannot be said that there are no relations.

Answer 6

Chapter ST2, Problem 1CQ

To determine

The relationship between the social security system and private insurance.

Expert Solution & Answer

Explanation of Solution

Social insurance is a government program that provides social security and aid from any losses, such as accident, death, and so forth. It is compulsory that the government has pay to its citizens. It is paid through the tax payment of individuals. Both social and private insurance have similarities and dissimilarities. The similarities are, such as the similarity in wide pooling of risk, specific benefit definitions, definition of eligibility rules and amount coverage, and so on. There are also dissimilarities between them. The private insurance will give its emphasis on the individuals who are under coverage, whereas social security covers all participants. Private insurance is voluntary, and social insurance is mandatory. Therefore, it cannot be said that both insurances have the same principles, and also, it cannot be said that there are no relations.

Answer 7

Chapter ST2, Problem 1CQ

To determine

The relationship between the social security system and private insurance.

Answer 8

Expert Solution & Answer

Explanation of Solution

Social insurance is a government program that provides social security and aid from any losses, such as accident, death, and so forth. It is compulsory that the government has pay to its citizens. It is paid through the tax payment of individuals. Both social and private insurance have similarities and dissimilarities. The similarities are, such as the similarity in wide pooling of risk, specific benefit definitions, definition of eligibility rules and amount coverage, and so on. There are also dissimilarities between them. The private insurance will give its emphasis on the individuals who are under coverage, whereas social security covers all participants. Private insurance is voluntary, and social insurance is mandatory. Therefore, it cannot be said that both insurances have the same principles, and also, it cannot be said that there are no relations.