Which of the following statements is true? Public opinion on the usefulness of the Social Security system tends to swing back an
d forth dramatically with the health of the national economy. The increase in tougher crime and sentencing laws in the 1990s went into effect despite indications that public opinion strongly opposed the trend. Franklin Roosevelt had little faith that public opinion would preserve the Social Security program; he expected it to be dismantled within a few decades. Franklin Roosevelt attempted to increase the size of the Social Security system, but backed down in the face of strong public opinion against any expansion. George W. Bush attempted to privatize aspects of Social Security, only to back down in the face of determined resistanc
E). George W. Bush attempted to privatize aspects of social security, only to back down in the face of determined resistance.
Explanation:
The statement regarding 'George W. Bush's attempt to reform the different facets of the social security system and he being the only one who could back down the face of determined resistance' asserts a true claim. Bush demarcated a significant initiative to improve the social security system in 2005 which primarily included 'partial privatization and alternatives to allow Americans to redirect a part of their FICA(social security tax) forth security investments.' Thus, <u>option E</u> is the correct answer.
The opportunity cost is the value of the next best alternative foregone. Every decision necessarily means giving up other options, which all have a value. The opportunity cost is the value one could have derived from using the same resources another way, though this is not always easily quantifiable.
