Suppose a new employee is promised a pension payment of $8000 in the twenty-fourth year after joining the firm. The current pension contribution of $1200 a year. Assuming an eight percent rate of return, this pension plan is said to be
A) fully funded.
B) partly funded.
C) unfunded.
D) fully vested.
B
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Higher U.S. interest rates cause the value of the dollar to
A) rise, making U.S. goods relatively cheaper on world markets. B) fall, making U.S. goods relatively cheaper on world markets. C) rise, making U.S. goods relatively more expensive on world markets. D) fall, making U.S. goods relatively more expensive on world markets.
The labor demand and labor supply schedules are given in the table above. If a minimum wage of $9 per hour is imposed,
A) a surplus of 300 workers occurs. B) a shortage of 300 workers occurs. C) there is no surplus or shortage of workers. D) the quantity demanded is 1,000 workers. E) there is unemployment of 700 workers.
One of the main reasons that Malthus' prediction of repeated wars and famines did not come true is
a. the government's intervention in the economy b. the implementation of an income tax to raise money for governmental spending c. increases in the supply of labor d. continuing technological change e. changes in planned investment spending
The_____________is the number of units sold multiplied by the average price per unit sold.
Fill in the blank(s) with the appropriate word(s).