Which of the Following Is True About the Coverage of OASDHI

question 99

Multiple Choice

Which of the following is true about the coverage of OASDHI program?

• A)Only about fifty percent U.S. employees are covered by the program.
• B)Federal, state, and local government employees account for a high percentage of employees covered under this program.
• C)There are no eligibility requirements to be met by an individual to receive benefits.
• D)Old-age insurance benefits for fully insured workers begin at the age of 50.
• E)High earners help subsidize benefit payments to low earners.

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Definitions:

Marginal Revenue

The extra revenue obtained by selling an additional unit of a product or service.

Upsloping Line

A graphical representation indicating positive correlation between two variables; as one variable increases, so does the other.

Demand Curve

A graphical representation showing the relationship between the price of a good and the quantity demanded by consumers, usually downward sloping.

Pure Competition

A market structure characterized by a large number of small firms, a homogeneous product, and easy entry and exit from the market.