2. US Social Security retirement benefits are determined by earnings previous to the retirement decision. However, the base amount of benefits will be reduced for retirees who continue to do some work. This is called the Social security earnings test. The rules are (roughly) as follows: Retirees can earn up to $5,000 (the earnings test floor) annually and still get the full bene.t. For earnings above this amount, retirement benefits are reduced by 50 cents per additional dollar earned until the individual receives no more benefits. (a) Draw the budget constraint in terms of annual hours for a retiree who can earn $20 an hour and receives $10,000 in Social Security benefits a year before the earnings test kicks in. Also draw the budget constraint for the same worker if there was no earnings test. Carefully label any kinks in your graph