(3) Unemployment Compensation The unemployment insurance system, created by the Social Security Act of 1938 is administered by each Labor. The system has three broad objectives: 1. Alleviate hardship for the unemployed 2. Prevent unemployment 3. Promote ro-employment unemployed individuals who have accomplished by portigation ostimated 1.87 Allovlating hardship, the system's principal aim,is accomplished by partially replacing the loss of wages for workers received unemployment checks in the last week of 2017. What is happening in this scenario? What socio-economic goal(s) are represented? Why? What trade-offs might be made by focusing on that goal? (4) Social Security I Security is largely a pay-as-you-go program . This means that today's workers' pay Social S e program and money flows back out as monthly income to beneficiaries. Most Social Secu etired people, who have paid into the system when they were working This ensures that n le to people when they are not able to work and/or are retired. Security is the financial foundation for millions of Americans-retirees disabled persons disabled or deceased workers. In 2017, about 167 million Americans paid Social Secu ollected monthly benefits. Vhat is happening in this scenario? at socio-economic goal(s) are represented? Why? t trade-offs might be made by focusing on that goal?

(3) Unemployment Compensation

What is happening in this scenario?
In this scenario, the unemployment insurance system is providing financial assistance to individuals who have lost their jobs. The system aims to alleviate the hardship faced by the unemployed by partially replacing their lost wages through unemployment checks.

What socio-economic goal(s) are represented? Why?
The socio-economic goal represented in this scenario is the alleviation of hardship for the unemployed. By providing financial assistance, the system helps individuals maintain a basic standard of living during periods of joblessness.

What trade-offs might be made by focusing on that goal?
Focusing solely on the goal of alleviating hardship for the unemployed may lead to trade-offs such as increased government spending and potential strain on public resources. Additionally, it may discourage individuals from actively seeking employment, leading to longer periods of unemployment and potential dependency on the system.

(4) Social Security

What is happening in this scenario?
In this scenario, Social Security is described as a pay-as-you-go program where current workers' contributions fund the benefits for retired individuals, disabled persons, and deceased workers. The system ensures that financial support is provided to those who are unable to work or are retired.

What socio-economic goal(s) are represented? Why?
The socio-economic goal represented in this scenario is the provision of financial security for retirees, disabled individuals, and beneficiaries of deceased workers. Social Security aims to provide a financial foundation for millions of Americans, ensuring that they have a source of income during periods of retirement, disability, or after death.

What trade-offs might be made by focusing on that goal?
Focusing solely on the goal of providing financial security through Social Security may lead to trade-offs such as increased government spending and potential strain on public resources. Additionally, it may result in intergenerational equity issues, where younger workers may feel that they are contributing more to the system than they will receive in benefits later on.