Arnie Plans to Retire at Age 65

question 72

Multiple Choice

Arnie plans to retire at age 65. Therefore, beginning at about age 50, he makes a series of investments with his savings so that he will have enough income to support himself and he plans to move into a smaller, less expensive house. When his 65^th birthday comes, Arnie feels calm and prepared. Arnie's adjustment to retirement is best considered to be an example of how which of the following models view adult development?

• A) crisis models
• B) Levinson's model
• C) command models
• D) transitional models

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Definitions:

McDonald's

A global fast-food company recognized for its burgers, fries, and breakfast items, known as a pioneer in the quick service restaurant industry.

Donald Boudreaux

An American economist, author, and professor known for his work on free market economics.

Private Property

Ownership rights over property (such as land, buildings, or goods) by individuals or non-governmental entities.

Market System

A type of economic system where decisions regarding investment, production, and distribution are guided by the price signals created by the forces of supply and demand.