A Pay-As-You-Go System Means

question 9

Multiple Choice

A pay-as-you-go system means

• A) you pay for your dinner as you go to the table to eat.
• B) current working citizens pay for current retired citizens.
• C) there is no need for taxes since current workers pay for current retirees.
• D) retirees are paid from accounts that have accumulated with interest over their working lives.

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Definitions:

Concrete Operations

A stage in Piaget's theory of cognitive development, occurring between ages 7 and 11, where children gain a better understanding of mental operations and can think logically about concrete events.

Stimulus

Any external or internal event or factor that influences or triggers a reaction in a biological organism.

Cognitive Development

The process of growth and change in intellectual/mental abilities such as thinking, reasoning, and understanding over the course of a person's life.

Concrete Operations

A stage in cognitive development, according to Piaget, where children gain the ability to think logically about concrete events and understand the concept of conservation.