The Social Security System Is A(n)

question 203

Multiple Choice

The Social Security system is a(n)

• A) ad valorem system.
• B) ability to pay system.
• C) progressive tax system.
• D) pay-as-you-go system.

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Definitions:

Loan

Funds lent with the anticipation of repayment plus an additional amount known as interest.

Interest

The fee for lending money, usually shown as a yearly percentage of the main sum.

Months

Units of time corresponding roughly to one cycle of the moon's phases, typically used to measure periods within a year.

Invest

The act of allocating money or capital to an endeavor with the expectation of generating an income or profit.