You Are in Your Twenties and Your Employer Deducts Money

question 70

Multiple Choice

You are in your twenties and your employer deducts money from each paycheck that goes to a fund for Social Security and Medicare.Who is most likely to benefit from the money taken from your paycheck for these programs?

• A) Your parents will eventually receive the benefits.
• B) As the employee, you receive the benefits.
• C) Your children will receive the benefits.
• D) According to some state laws, your siblings will receive the money.
• E) The money will be put toward reducing the national deficit.

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Definitions:

Bottom of the Pyramid

A socioeconomic concept that refers to the largest, but poorest group of people in the global population, who live on less than $2.50 a day.

Impoverished Populations

Communities that suffer from a lack of resources and economic instability, often leading to poor living conditions.

Goods and Services

The two primary categories of offerings in the economy; goods are tangible items, while services are activities or benefits offered for consumption.

Tariffs

Taxes imposed on imported goods and services, which can affect trade dynamics, pricing, and availability of products in a domestic market.