Which of the Following Is True of Social Security and Medicare

question 12

Multiple Choice

Which of the following is true of social security and Medicare?

• A)Eligibility requirements make sure that all social security beneficiaries have an absolute economic need for the benefit.
• B)Spending on Medicare and social security exceeds the total of all spending of public assistance programs.
• C)Most retirees receive less in social security benefits than they contributed in payroll taxes while working.
• D)Social security income is decided as follows: the lower your income while working,the larger your social security benefit upon retirement.
• E)Families in the top fifth of the income population receive more in social security and Medicare benefits than the government spends in total on TANF,SSI,food stamps,and housing subsidies for the poor.

Identify and calculate the impact of insurance deductibles on claims.

Recognize what personal property is covered under homeowner's insurance policies.

Distinguish between speculative, avoided, assumed, pure, and reduced risks.

Comprehend factors influencing insurance rates and coverage territories.

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Definitions:

Cheat

To act dishonestly or unfairly in order to gain an advantage, especially in a game, exam, or competition.

Agreements

Arrangements or contracts between parties defining their rights, responsibilities, and relationships.

Kinked-Demand

A demand curve hypothesis in oligopolistic markets that explains why firms may not change their prices even when costs change, due to competitive reactions.