What Would Be the Result of Conducting a "Means Test

question 38

Multiple Choice

What would be the result of conducting a "means test" for Social Security?

• A) wealthy individuals receiving higher benefits
• B) Medicare being eliminated for most Americans
• C) middle-class Americans receiving more benefits
• D) poor people having to prove that they need the money
• E) wealthy individuals receiving lower benefits

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Definitions:

Great Depression

A severe worldwide economic downturn that lasted throughout the 1930s, marked by widespread unemployment, deflation, and a significant decline in economic output.

National Banks

National banks are financial institutions chartered by the federal government of a country, authorized to provide a variety of banking services, including accepting deposits, making loans, and issuing currency.

Interest-rate Ceilings

Regulatory limits placed on the maximum interest rates that can be charged on loans, intended to protect borrowers.

Bank Profits

The earnings generated by banks, derived from the difference between the interest paid on deposits and the interest received from loans.