Twenty-Five Percent of All Retired People in the United States

question 134

True/False

Twenty-five percent of all retired people in the United States draw Social Security benefits.Social Security and Supplemental Social Income (SSI)provide virtually all of the financial support to ninety percent of people over age 65.

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Definitions:

Opportunity Cost

The cost of the next best alternative that is forgone when making a decision.

Scenario 1-5

A series of hypothetical or planned situations used for strategic planning, decision making, or analysis, labeled numerically for differentiation.

Working

Engaging in a physical or mental activity to achieve an objective, often to earn an income.

Opportunity Cost

The loss of potential gain from other alternatives when one particular option is chosen over others.