Defined-benefit plans:
A. pay a pension based on the amount contributed into the plan by the employee and employer.
B. do not require any responsibility on the part of the employer for the employees' retirement income; it is based on employee contributions.
C. are more common than defined contribution plans.
D. usually require an employee to work a very long time for the same employer in order to reap a large benefit.
Answer: D
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The evidence from banking crises in other countries indicates that
A) deposit insurance is to blame in each country. B) a government safety net for depositors need not increase moral hazard. C) regulatory forbearance never leads to problems. D) deregulation combined with poor regulatory supervision raises moral hazard incentives.
In deciding on how to spend their resources, consumers try to
A. maximize expenditures. B. choose the combination of goods that yield the highest level of personal satisfaction. C. choose the combination of goods that costs the least. D. maximize profit.
In the long run, unusually high unemployment
a. indicates that an economy is operating above potential GDP b. forces the wage rate down c. eventually causes the aggregate supply curve to shift upward d. pushes the price level upward e. causes the aggregate demand curve to shift rightward
Fixed costs are the expenditures that must be made before production can begin
a. True b. False Indicate whether the statement is true or false