Explain the asset substitution effect of social security

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Explain the asset substitution effect of Social Security. How does the asset substitution effect change the choices made by a worker who is saving for retirement? For many workers, their savings decisions will be affected by the asset-substitution effect in the long run. What is the impact on the labor productivity of the typical worker? Explain. Create a graph: Graph data should be the impact on the labor productivity of the typical worker compared to their savings decisions.

Reference no: EM13912584

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