A defined benefit pension program is one in which
A. everyone gets the same amount, regardless of how much they work.
B. the plan defines eligibility for retirement and benefits according to a set of rules and a formula.
C. those in the plan, as well as their employer, contribute to an account according to a formula, and the investment of that account is under the control of the employee.
D. benefits are untaxed.
Answer: B
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If the Federal Reserve increases the money supply, ceteris paribus, the:
a. rate of interest decreases. b. rate of interest increases. c. rate of interest is unaffected. d. Fed sells bonds.
The figure below shows the free-trade production and consumption in Country Y. AB is the production-possibility curve of Country Y. I1 is the community indifference curve of Country Y. Country Y imports
A. forty gallons of wine. B. fifty gallons of wine. C. seventy pounds of cheese. D. twenty pounds of cheese.
According to the law of diminishing returns,
a. Some productions factors are fixed b. All inputs are variable c. All inputs are fixed d. None of the above
In the short run, an unanticipated increase in the inflation rate would
A. unambiguously improve the misery index. B. increase the unemployment rate. C. decrease the unemployment rate. D. lower the natural rate of unemployment.