Which of the Following Is True About the Service Industry

question 73

Multiple Choice

Which of the following is true about the service industry in Texas?

• A) It pays lower wages and salaries than manufacturing firms.
• B) It is one of the slowest growing economic sectors in Texas.
• C) It has created genetically modified organisms (GMOs).
• D) It employs over one-half of all Texas workers.
• E) It is being replaced by robots and automation.

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Definitions:

Health Insurance

Health insurance is a form of insurance coverage that typically pays for medical, surgical, prescription drug, and sometimes dental expenses incurred by the insured.

Retirement Plan

A financial arrangement designed to replace employment income upon retirement, often including contributions from both the employer and employee.

Federal Income Taxes

Taxes levied by the federal government on the annual income of individuals, corporations, trusts, and other legal entities.

Maturity Date

The specified date on a financial instrument at which the principal (or face value) is paid back to the investors and the instrument is no longer valid.