A defined-benefit pension
A) determines benefits by contributions and their earnings.
B) fixes benefits in advance.
C) links benefits to investment performance.
D) fixes benefits paid out for a limited number of years.
B
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The difference between personal income and disposable income is:
A) corporate taxes B) personal taxes C) savings D) none of the above
The ability to produce a good at a lower opportunity cost than others is known as
A) comparative advantage. B) absolute advantage. C) specialization. D) marginal cost production.
In the short run:
A. some inputs are fixed. B. firms can choose among all possible production techniques. C. all inputs are variable. D. firms can use any input combination they want.
The amount by which equilibrium real GDP exceeds full-employment GDP is known as
A. stagflation. B. employment. C. a recessionary gap. D. an inflationary gap.