Identify an Accurate Statement About Health Insurance in the United

question 34

Multiple Choice

Identify an accurate statement about health insurance in the United States.

• A)
• Medicare is designed for people below the poverty line.
• B) Individuals of all ages are eligible for Medicare.
• C) Billionaires are not considered eligible for Medicare.
• D) Medicaid provides medical care to people of all ages below the poverty line.
• E) Medicaid pays most of the medical costs of Americans age 65 and over, regardless of income.

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Definitions:

Returns To Scale

The change in output resulting from a proportional change in all input factors where all inputs are increased or decreased by the same factor.

Marginal Products

This refers to the additional output that results from using an extra unit of a particular input, assuming other inputs are constant in the production process.

Production Function

A mathematical expression that describes the relationship between input factors and the output of goods or services.

Returns To Scale

The change in output of a production process as all inputs are increased proportionally.