1.

The actuarial adjustment in Social Security refers to O the amount by which Social Security benefits are adjusted for individuals who are married as opposed to single. O the amount by which one's annual Social Security benefits are reduced if one has labor earnings above a certain amount in a given year. O the amount by which annual Social Security benefits are adjusted relative to the primary insurance amount when one begins claiming benefits at an age other than the full retirement age. O the amount by which one's Social Security benefits are reduced due to federal, state, and local taxes.Crowd out with Medicare occurs when 0 those not eligible for Medicare go without insurance. 0 those eligible for Medicare decline Medicare coverage in favor of their own private insurance. 0 those most in need of Medicare go without it due to its cost. 0 those who use Medicare as their sole health insurance would have otherwise purchased private health insurance. Moral hazard with Social Security 0 does not exist because all individuals can collect Social Security benets once they reach a certain age. 0 arises because Social Security may lead people to retire at different times than they would in the absence of Social Security. 0 is counterbalanced by the adverse selection effect in Social Security. 0 arises because the Social Security benets you receive in retirement are not a function of your pre-retirement earnings. At the time of his birth, the expected present discounted value of Kai's future Social Security benets is $500,000. The expected present discounted value of Kai's tax payments into the Social Security system while he is working is $400,000. Kai's Social Security Wealth (SSW) i v [Select] -$900,000 -$'|00,000 $100,000 $900,000 If the government were to provide health insurance coverage to all people (i.e., universal health insurance), it would address the problem of O adverse selection. 0 moral hazard. O crowd out. 0 All of the above. 0 None of the above