A Program Financed from General Revenues That Provide Uniform Minimum

question 42

Multiple Choice

A program financed from general revenues that provide uniform minimum monthly income to people who demonstrate financial need and are age 65 or older, blind, or disabled is

• A)Medicaid.
• B)Medicare.
• C)Social Security.
• D)Supplemental Security Income (SSI).
• E)TANF.

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Definitions:

Variable Costs

Costs that change in direct proportion to changes in levels of activity or production volume, such as materials and labor.

Fixed Costs

Costs that do not change with the level of production or sales, such as rent, salaries, and insurance, necessary for running a business.

Break-Even Point

The juncture where the overall expenses match the total income, resulting in neither a profit nor a loss.

Variable Costs

Costs that vary directly with the volume of production or service delivery, such as materials and labor.