By the Early 1930s, the Increase in Life Expectancy and the Accompanying

question 16

Multiple Choice

By the early 1930s, the increase in life expectancy and the accompanying increase in the number of elderly Americans caused what to occur?

• A) The federal government established a national program of old-age insurance.
• B) State governments began to provide assistance to the needy elderly.
• C) Most corporations began offering retirement plans to their employees.
• D) The federal government established a comprehensive retirement plan for federal employees.

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Definitions:

Savings Account

A bank account where money is deposited for safekeeping, which earns interest over time.

Simple Interest

Interest calculated on the principal portion of a loan or deposit without compounding.

Commercial Paper

An unsecured, short-term debt instrument issued by corporations, typically used for the financing of payroll, accounts payable, and inventories, and meeting other short-term liabilities.

Simple Interest

Interest computed solely on the initial sum or on the outstanding part of that initial sum.