In 1940,Ida May Fuller Received the First Social Security Check

question 160

Multiple Choice

In 1940,Ida May Fuller received the first Social Security check after contributing only $24.75 in Social Security taxes before she retired and lived to be 100 years old.Her case is an example of how:

• A) Social Security payments were not issued to people who were close to retirement.
• B) people can choose not to contribute to Social Security.
• C) people begin to get Social Security payments before they retire.
• D) the first Social Security recipients benefitted much more from the program than will workers entering the program today.

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Definitions:

Rising Incomes

An economic condition characterized by a general increase in the level of wages, salaries, and profits across a population or economy.

Population Growth

The increase in the number of individuals in a population, often measured as a percentage of growth over a specific period of time.

Capital Flight

The transfer of savings from developing countries to industrially advanced countries to avoid government expropriation, taxation, or higher rates of inflation, or simply to realize greater returns on financial investments.

Export Earnings

The revenue a country or business receives from selling goods and services to other countries.