Medicare and Social Security Are Similar in the Following Respects

question 125

Multiple Choice

Medicare and Social Security are similar in the following respects, except:

• A) They are both "pay-as-you-go" plans
• B) Their trust funds are both projected to be depleted within the next 30 years
• C) Contributions are collected from both employers and employees
• D) They are both intended to benefit older current workers

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Definitions:

Opportunity Cost

The cost of forgoing the next best alternative when making a decision or choosing one option over another.

Public Goods

Goods that are non-excludable and non-rivalrous, meaning they are available for everyone to consume without diminishing their availability to others, such as public parks and national defense.

Electoral System

The method by which votes are counted and converted into seats in a legislature or for selecting a government.

Brand Names

Represent trademarks or trade names that identify specific products or services associated with a company or manufacturer.