—4 REFER TO THE FOLLOWING PASSAGE.FOR MANY YEARS, THERE HAS...

Questions 1—4 refer to the following passage.For many years, there has been much hand-wringing over the fate of Social Security once the babyboomers reach retirement age. Baby boomers, people born between 1946 and 1964, represent thelargest single sustained growth of population in the history of the United States. It is the sheerenormity of this generation that has had economists worried as retirement beckons. According tothe U.S. Census Bureau, by 2020, an estimated 80,000,000 Americans will have reached or sur-passed the conventional age of retirement. With so many boomers retiring and drawing benefitsbut no longer paying into Social Security, many fear that the Social Security fund itself could gobankrupt.However, a study released by the American Association for Retired Persons (AARP) thatexamined baby boomers’ plans for retirement found that for the most part, this generation is notexpected to adhere to the conventional retirement scheme, a fact that may please the worriers inWashington, DC.In its survey, the AARP broke baby boomers into different categories based on their finan-cial standing, degree of preparedness for retirement, and optimism toward the future. The AARPfound that of all groups surveyed, only 13% planned to stop working altogether once they reachedretirement age; the remaining 87% planned to continue working for pay. The reasons to continueworking varied among the different groups. For some, the plan to continue working is a financialdecision. Between 25% and 44% of respondents reported they are not financially prepared to retireand will therefore continue working past retirement age. For the remainder of those planning towork past their mid to late 60s, the decision is based on long-held goals to start a business and/orthe desire to stay active in their industry or community.Eventually, most baby boomers will need to stop working as they progress into their 70s, 80s,and beyond. But with such large numbers planning to continue working, thereby continuing topay into the Social Security fund, perhaps Social Security will be able to withstand the end of thebaby boom and continue to be a safety net for future generations.1. Which of the following titles would be most appropriate for this passage?a. The AARP and Social Securityb. Baby Boomers Bankrupt Social Securityc. Baby Boomers Will Work for Pay Beyond Retirementd. Worries about Social Security May Be Unfoundede. Economists Fear Baby Boomers’ Impact on Social Security2. According to the author, baby boomers are not likely to bankrupt the Social Security fund primarilybecausea. the government has raised the official age for retirement.b. most baby boomers are financially prepared for retirement.c. most baby boomers plan to work past retirement age.d. most baby boomers are active in their communities.e. most baby boomers will not need supplemental income.3. The author cites statistics from the AARP survey primarily toa. support the assertion that baby boomers are the largest group of retirees in U.S. history.b. show that baby boomers will not retire en masse as feared.c. suggest that better financial planning is needed for the elderly.d. show how optimistic baby boomers are about their future.e. show the correlation between retirement age and optimism.4. It can be inferred from the AARP survey results thata. many baby boomers do not have adequate savings.b. many baby boomers are afraid of retirement.c. most baby boomers are unaware of the actual cost of retirement.d. few baby boomers are realistic about their retirement goals.e. politicians do not understand the baby boom generation.