We can think of policy as the formal expression of what elected or appointed officials are trying to accomplish.

Question $1$Answer

a$.$

in practice, a system in which contributions paid by today's workers support today's elderly.

b$.$

funded by revenues from state and local taxes.

c$.$

a savings program in which each person$$s contributions are set aside in an account for his or her retirement.

d$.$

funded by individual contributions and administered by the states.