By Far the Largest of the U

question 21

Multiple Choice

By far the largest of the U.S.statutory programs,in both size and cost to employers (and employees) ,are ______.

• A) Social Security and Medicare
• B) Social Security and Medicaid
• C) Medicare and Medicaid
• D) Medicare and the ACA

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Definitions:

Break-even Sales

The amount of revenue required to cover both the variable and fixed costs of production, leading to a situation where a business makes neither profit nor loss.

Variable Costs

Costs that vary directly with the level of production output.

Fixed Costs

Costs that do not change with the level of production or sales, such as rent, salaries, and insurance premiums.

Operating Income

The profit realized from a business's core operations, excluding deductions of interest and tax, representing the efficiency of the company's core business.