Some employers allow new employees to delay their investment in a retirement account for a year or two. This approach puts the cost of saving for retirement in the ________ and the benefit of saving in the ________.
A. present; present
B. present; future
C. future; present
D. future; future
Answer: D
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Explicit costs are
a. not part of opportunity cost b. the only cost considered in opportunity cost c. exactly the same as implicit costs d. actual monetary payments for resources purchased e. the opportunity costs of using resources owned by the firm
According to the rational expectations theory, when the economy is at its long-run equilibrium output level, fully anticipated fiscal and monetary policies will affect the unemployment rate but not the inflation rate
a. True b. False Indicate whether the statement is true or false
In reality, all economic systems are
A. mixed. B. capitalistic. C. democratic. D. socialistic.
Technological advances that contribute to economic growth include the following, except:
A. Innovative production techniques B. New managerial methods C. Innovative digital gadgets for consumers D. New forms of business organization