Deck 15: Basic Concepts III: Social and Economic Outlook for an Aging Society

Question 1

The Employee Retirement Income Security Act (ERISA) of 1974 regulates private pension plans in the United States and provides protection against loss of benefits to retired workers.

Answer 1

True

Question 2

Since the financial status of older Americans is enormously diverse, it is better to look at mean values of wealth and income, rather than median values.

Answer 2

False

Question 3

As people age, they become increasingly alike.

Answer 3

False

Question 4

Income tends to increase after retirement because of the increasing value of home equity as a proportion of assets.

Question 5

Of 13.3 million noninstitutionalized older adults living alone in 2015, the majority were women.

Question 6

The "two worlds of aging" refer to which of the following?

A) Aging in North America versus aging in other parts of the world.
B) The experience of aging among upper and middle classes compared to lower and working classes.
C) The categorization of older adults into two broad groups, the "ill-derly" and the "well-derly".
D) The experience of aging among women compared to men.
E) None of these.

Question 7

The "gray lobby" refers to which of the following?

A) Groups that focus on balancing the equity and adequacy functions of Social Security.
B) Political lobbying groups that push for generational equity among social programs.
C) Interest groups that focus on the concerns of older persons.
D) Political lobbyists who are increasingly older and thus gray haired.
E) None of these.

Question 8

The greater likelihood of poverty among women in old age is called which of the following?

A) the feminization of poverty
B) the sex ratio
C) the crossover phenomenon
D) the aging poverty phenomenon
E) economic jeopardy

Question 9

Since women are more likely than men to be widowed in old age, women are more likely to receive private pensions to ensure a minimal income.

Question 10

Social class position in old age is influenced by which of the following?

A) occupation
B) income
C) property
D) education
E) all of these

Question 11

Retirement income for older women is about ______ percent of that for men.

A) 90
B) 75
C) 55
D) 35
E) 30

Question 12

The poverty rate is highest among which of the following groups?

A) aged persons
B) adults aged 50-64 years
C) adults aged 18-49 years
D) children under 18 years

Question 13

Hispanic Americans comprise the largest growing minority group among the aged.

Question 14

The "sex ratio" refers to which of the following?

A) The differing social consequences of aging for men and women.
B) The statistical likelihood of women marrying men who are older than they are.
C) The proportion of women to men in the population.
D) The proportion of men to women in the population.
E) None of these.

Question 15

Older people tend to have ______ wealth than younger people and ______ incomes compared to other adults in the United States.

A) more, higher
B) more, lower
C) less, higher
D) less, lower

Question 16

In old age, social class is related more to accumulated advantage or disadvantage than to employment.

Question 17

Which of the following is the largest source of income for people over age 65 in the United States today?

A) earnings from employment
B) Social Security
C) private pensions
D) asset income
E) individual savings

Question 18

Since the 1980s, the income of older people in the United States has grown faster than the income of younger people.

Question 19

"Net worth" consists of which of the following?

A) savings and personal property, minus home equity
B) the value of home equity, minus any debt
C) real estate, savings, and personal property, minus any debt
D) real estate, savings, and personal property, including any debt
E) none of these

Question 20

The "three-legged stool" of retirement income includes which of the following?

A) earnings from employment, Social Security, and public assistance
B) earnings from employment, Social Security, and asset income
C) Social Security, private pensions, and public assistance
D) Social Security, private pensions, and savings
E) earnings from employment, private pensions, and savings

Question 21

Discuss the importance of Social Security for today's older adults.

Question 22

To what extent is federal government activity focused on the aged? Describe the major federal programs affecting older Americans. What changes have occurred in these programs in recent years, and what has been the impact of these changes on the well-being of older Americans?

Question 23

As a large demographic group, older Americans have much higher levels of total wealth compared with younger people.

Question 24

What factors influence poverty among the aged? Which groups among older adults are more likely to be economically disadvantaged compared to other groups? How does the concept "cumulative disadvantage" assist us in our understanding of different patterns of experience in later life?

Question 25

Describe how gender, race, and social class intersect to influence the experience of aging in the United States.

Question 26

The highest poverty rates are found among older women, minorities, and those with chronic illnesses.

Question 27

In recent decades, there has been an increase in midlife and older adults participating in the labor force.

Question 28

The Affordable Care Act of 2010 extended health insurance benefits to all U.S. citizens, creating "Medicare for all."

Question 29

What are the major sources of retirement income among older people today? How have sources of retirement income changed over the last several decades? How have these patterns been changing since the economic downturn that began in 2008?

Question 30

What are the implications of categorizing older adults as "ill-derly" and "well-derly"? Do these two categories capture sufficiently the diversity of older adults and the complexity of the aging experience or serve to further ageist stereotypes? Discuss.

Question 31

What are the implications of an increasingly ethnically diverse population for aging in American society?