Problem
a. Why might a pay-as-you-go social security system transfer resources from the young to the old?
b. What are the consequences of such a system on economic efficiency?
c. Are there other ways to structure a social security system that might alleviate some of the problems associated with this one? Explain.
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.