An employer retirement plan that provides a predetermined monthly amount of income when you retire is called a

A. defined contribution plan.
B. defined benefit plan.
C. 401(k) plan.
D. Social Security plan.


Answer: B

Economics

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The price of a shirt is $20. Charlie can produce a shirt at a marginal cost of $10, Mac can produce a shirt for $18, and Dennis can produce a shirt for $22

For a shirt, Deandra has a marginal benefit of $25, Frank has marginal benefit of $20, and Artemis has a marginal benefit of $18. Which of the following statements is correct? A) The sum of consumer surplus is $5 and the sum of producer surplus is $12. B) The sum of consumer surplus is $12. C) Only Frank and Artemis will purchase a shirt. D) Only Dennis will produce a shirt. E) The sum of producer surplus is $10.

Economics

When total utility is at a maximum, marginal utility is

a. zero b. positive c. negative d. one e. infinite

Economics

Which of the following rules is satisfied when a monopoly maximizes profits?

A. Price < MC. B. MR = MC. C. Price = AVC. D. MR > MC.

Economics

If the nominal interest rate in an economy is 6%, and the rate of inflation in the economy is 4%, the real interest rate in the economy is:

A) 2%. B) 24%. C) 1.5%. D) 10%.

Economics