As the Large Baby-Boom Generation Moves into the Retirement Phase

question 115

Multiple Choice

As the large baby-boom generation moves into the retirement phase of life, this will

• A) make it easier for the federal government to finance its budget deficit because the baby-boomers will be the wealthiest generation  of retirees in American history.
• B) make it easier for the federal government to reduce spending because senior citizens do not spend much on consumption.
• C) make it more difficult for the federal government to finance its budget deficit because the retirement  of the baby-boomers will  mean more expenditures for Social Security and Medicare.
• D) not affect the federal deficit because there is no reason to expect that either federal spending or tax revenues will be influenced by the retirement of the baby-boomers.

Evaluate the role of cultural capital in maintaining social inequalities.

Understand the historical and societal context of cultural movements and their impact on contemporary society.

Explore the concept of cultural diffusion and its implications for global cultures.

Recognize the role of culture in shaping consumer behavior and attitudes towards products.

---

Definitions:

Indirect Pay

Compensation that is not paid directly as cash but includes benefits like health insurance, retirement plans, and paid time off.

Health Care Spending Accounts

Accounts that allow employees to set aside pre-tax dollars to pay for eligible health care expenses not covered by their insurance.

Fixed Benefits Plan

A type of employee benefits plan where the benefits provided are predetermined and not based on individual performance or company profitability.

Defined Benefit Plan

A pension plan that guarantees a specified monthly benefit at retirement, which is predetermined by a formula based on the employee's earnings history, tenure of service, and age.