Question: 1 . Social Insurance ( please explain the math ) a ) [ 6 points ] Suppose an individual was earning ( $

1. Social Insurance (please explain the math)
a)[6 points] Suppose an individual was earning \(\$ 3000\) a week and then becomes unemployed. The individual then has no labor market earnings but can borrow from family and friends. Suppose that the UI system provides \(\$ 800\) a week in benefits. The table below summarizes the individual's situation. \( X \) and \( Y \) are unknown variables.
(i) What are \( X \) and \( Y \) if UI benefits don't affect borrowing from family and friends (no crowd out)?(ii) What are \( X \) and \( Y \) if individuals stop borrowing by \(\$ 1\) from family and friends for each dollar of UI benefits (full crowd out)?(iii) What are \( X \) and \( Y \) if individuals reduce their borrowing from family and friends by \(50\%\) for each dollar of benefits (partial crowd out)? You should provide numerical answers
1 . Social Insurance ( please explain the math )

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