The most important source of funding for Medicare is
a. the federal income tax.
b. premiums paid by elders and deducted from their monthly Social Security checks.
c. a 2.9 percent payroll tax paid by all workers, regardless of their age.
d. proceeds from the Medicare Trust Fund.
e. a tax on the health insurance premiums pay by all group plans.
C
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If an increase of $10 billion of investment results in an increase in equilibrium expenditure of $40 billion, the multiplier equals
A) $10 billion ÷ $40 billion = 0.25. B) $40 billion - $10 billion = $30 billion. C) $10 billion × $40 billion = $400 billion. D) $10 billion - $40 billion = -$30 billion. E) $40 billion ÷ $10 billion = 4.
Decreasing marginal returns occur in the short run as more labor is hired to work in a fixed sized plant because
A) less efficient and less productive workers are hired. B) adding more workers exhausts the possible gains from specialization. C) the entrepreneur does not know how to manage more workers. D) each worker will produce more than the worker previously hired. E) the plant becomes less specialized.