Which of the Following Is a Requirement for an Individual

question 18

Multiple Choice

Which of the following is a requirement for an individual to qualify for full retirement benefits under the Social Security system?

• A)The individual must be employed in a job covered by Social Security for at least 60 quarters, or 15 years, which need not be consecutive.
• B)The individual must be employed in a job covered by Social Security for at least 50 quarters, or 12.5 years, which need not be consecutive.
• C)The individual must be employed in a job covered by Social Security for at least 50 consecutive quarters, or 12.5 years.
• D)The individual must be employed in a job covered by Social Security for at least 40 quarters, or 10 years, which need not be consecutive.
• E)The individual must be employed in a job covered by Social Security for at least 40 consecutive quarters, or 10 years.

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Definitions:

Goods And Services

The products and activities that satisfy human wants, available for purchase in the marketplace, including both tangible items and intangible performances.

Market Economy

An economic system where supply and demand from consumers direct the production of goods and services and determine their prices.

Goods And Services

Refers to the tangible products and intangible services that are produced and consumed within an economy.

Central Planning

An economic system in which decisions about production, investment, and distribution are made by a central authority, typically in a government.