Ch4 Social Security Part 1 (mon)

Ch4 Social Security Part 1 (mon)

12th Grade

5 Qs

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Ch4 Social Security Part 1 (mon)

Ch4 Social Security Part 1 (mon)

Assessment

Quiz

Other

12th Grade

Practice Problem

Medium

Created by

Mr. Batira

Used 28+ times

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5 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

Social Security was enacted in the

1870's

1910's

1930's

1960's

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

Social Security was intended to

cover all of the income necessary for retirement.

provide retirement income for only those who did not save for themselves.

provide retirement income for only those without private pensions.

provide a safety net of retirement income to which recipients would add their savings and pensions.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

A pay-as-you-go system

has current retirees being paid out of the taxes of current workers.

has a sufficient amount of money on hand currently to pay out all future obligations.

has current retirees being paid out of the taxes of current workers and has a sufficient amount of money on hand currently to pay out all future obligations.

always requires a trust fund.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

A fully-funded system

has current retirees being paid out of the taxes of current workers.

has a sufficient amount of money on hand currently to pay out all future obligations.

has current retirees being paid out of the taxes of current workers and has a sufficient amount of money on hand currently to pay out all future obligations.

never needs to run a surplus.

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

Which of the following types of income are subject to FICA taxes?

Wages and salaries

Capital gains

Interest income

Inheritance