The Social Security System of the United States Is Based

question 83

Multiple Choice

The Social Security system of the United States is based on the pay-as-you-go principle. This indicates that funding of the benefits paid to current retirees comes primarily from

• A) the income generated by the system's ownership of stock.
• B) the tax payments of current workers.
• C) the funds that current retirees paid into their personal savings accounts during their working years.
• D) money created by the Federal Reserve system.

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Definitions:

Formal Operational Thought

A stage in cognitive development, according to Piaget, where individuals develop the ability to think abstractly, logically, and systematically, usually beginning in adolescence.

Concrete Operational Thought

A stage in cognitive development, described by Piaget, where children aged 7-12 start to think logically about concrete events.

Sensorimotor Thought

refers to the stage in early childhood cognitive development where learning occurs through sensory experiences and manipulating objects.

Preoperational Thought

A stage in Piaget's theory of cognitive development where children from about 2 to 7 years old demonstrate symbolic thinking but not yet using cognitive operations like logic.