If All Citizens Who Are 65 Years and Older Are

question 8

Multiple Choice

If all citizens who are 65 years and older are eligible for Medicare, but only some citizens are eligible for Medicaid because they lack certain resources, which of the following is also true?

• A) Both Medicare and Medicaid are principally retirement programs.
• B) Both Medicare and Medicaid are means-tested programs.
• C) Medicare is an entitlement program, but Medicaid is a means-tested program.
• D) Medicare is a means-tested program, but Medicaid is an entitlement program.
• E) Medicare and Medicaid have been replaced by Temporary Assistance for Needy Families.

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Definitions:

Action Figures

Small, collectible figures often representing characters from movies, comic books, or video games, popular with both children and collectors.

Utility

In economics, the satisfaction or benefit derived from consuming a good or service.

Consumer Surplus

The distinction between what consumers are willing and financially able to pay for a good or service versus the actual payment they make.

Vending Machine

An automated machine that provides items such as snacks, beverages, cigarettes, or lottery tickets to consumers after money, a credit card, or a specially designed card is inserted into the machine.