Question 16

As originally designed, Social Security was to be financed as a

1. private insurance program.
2. pure income transfer program.
3. pay-as-you-go insurance program.
4. fully-funded insurance program.
5. means-tested benefits program.

Question 20

The Affordable Care Act (also known as Obamacare)

1. creates a government operated health plan, just like the UK National Health Service.
2. provides all Americans with an insurance policy provided by the federal government.
3. eliminates the market place from the health care system.
4. requires that Americans obtain health insurance.
5. has been determined by the US Supreme Court to be unconstitutional.

Question 24

In the US, major sources of tax revenues are:

1. Income taxes at the federal level, property taxes at the state level.
2. Sales taxes at the federal level and income taxes and property taxes at the state level.
3. Income taxes at the federal level and income and sales taxes at the state level.
4. Income taxes at the federal level and payroll taxes at the state level.