Which of the Following Statements Is/are True About Medicare Tax

question 5

Multiple Choice

Which of the following statements is/are true about Medicare tax? (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.)

• A)Additional Medicare tax is withheld for employees who earn more than $150,000 annually.
• B)Employers match all Medicare taxes withheld.
• C)The Medicare tax rate is 1.45%.
• D)All employee earnings less pre-tax deductions are subject to Medicare tax.

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Definitions:

Total Output

The total quantity of goods or services produced by an economy, firm, or manufacturing process within a specific time period.

Units

Basic quantitative measures used in economics and commerce to count, describe, and measure the amount of a product or commodity.

Least-Cost Combination

is an economic principle that firms achieve by using the mix of inputs that minimize their costs while producing a given level of output.

MRP

Marginal Revenue Product; the additional revenue generated by employing one more unit of a resource or factor of production.