Identify the Correct Statement About Age Discrimination in Employment Act

question 98

Multiple Choice

Identify the correct statement about Age Discrimination in Employment Act ADEA) waivers.

• A)These waivers are signed by workers that they are voluntarily giving up their rights to file claims under the ADEA.
• B)These waivers are not applicable when companies ask a worker to retire early.
• C)These waivers provide a worker with seven days to consider the waiver.
• D)These waivers are fully enforceable under the ADEA even if they are "involuntary," and not given in writing.
• E)These waivers provide a worker with at least 21 days to revoke it after signing the waiver.

---

Definitions:

Downward-sloping Demand

This concept describes the typical relationship in economics where, as the price of a good or service decreases, the quantity demanded increases, and vice versa.

Competitive Environment

A market setting where multiple firms are in rivalry to offer goods or services, driving innovation, efficiency, and choice.

Price-taker

An economic entity that does not have the market power to influence prices on its own and thus accepts the prevailing market price.

Price-searcher

A market participant who determines the price of goods or services based on the level of demand and supply, often in imperfectly competitive markets.