Explain the three major categories of the Social Security system
The three major categories of social security system are retirement insurance benefits, Medicare, and disability.?
Retirement Insurance Benefits: The original and the main purpose of social security is to provide partial replacement of earnings when a worker decides it is time to retire. Monthly benefits are payable to a retired insured worker from age sixty-two onward. Under some circumstances, a spouse or children may also be eligible.
Medicare: Medicare benefits cover a portion of the costs of hospitalization and the medical expenses of insured workers and their spouses age sixty-five and older, as well as younger disabled workers in some circumstances. This insurance is divided into two parts, designated by the federal bureaucracy as A and B. Part A is hospital insurance for inpatient hospital care, inpatient skilled nursing care, and hospice care. Part B is supplementary medical insurance, which helps defray the costs of doctors' services and other medical expenses not covered by part A.
Disability: Under the social security system, a worker is considered disabled when a severe physical or mental impairment prevents that person from working for a year or more or is expected to result in the victim's death. The disability does not have to be work related, but it must be total. Under some circumstances, a disabled worker's spouse, children, or surviving family members are also eligible for benefits.
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Federal court diversity of citizenship jurisdiction can be established where the plaintiff and defendant are residents of different states and the amount in controversyexceeds $75,000
a. True b. False
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Indicate whether the statement is true or false.
Which of the following is a feature of the maturity stage of the industry life cycle?
A. The focus on product innovation is higher than that on process innovation. B. The market reaches its maximum size. C. The industry structure is more monopolistically competitive. D. The competitive intensity within the industry is at its peak.
The adoption curve shows that
A. some groups accept a new idea before others. B. most new products are introduced too slowly. C. the marketing plan for a new product should schedule most of the promotion spending right when the product is first introduced. D. a firm should stick to the same promotion effort as time passes. E. All these answers are correct.