THE GREAT DEPRESSION 1929 1940
THE GREAT DEPRESSION
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The SEC
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FDIC
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Social Security
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Medicare/Medicaid
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Detailed explanation-1: -Benefits. After attaining the age of 60 yrs, beneficiaries are entitled to receive minimum monthly assured pension of Rs.3000/-. On death of the beneficiary, spouse is eligible for 50% monthly pension. If husband and wife, both joins the scheme, they are eligible for Rs. 6000/-monthly pension jointly.
Detailed explanation-2: -Under the 1935 law, what we now think of as Social Security only paid retirement benefits to the primary worker. A 1939 change in the law added survivors benefits and benefits for the retiree’s spouse and children. In 1956 disability benefits were added.
Detailed explanation-3: -In the social security policysystem, social insurance isthe main pillar, which’s functions are minimizing risks, support to people in compensating or partially replacing for their income when they have to face the risks (illness, losing job or working capacity), reducing pressure on the social assistance system.