Employer Choice of Discretionary Benefits Does Not Depend On: (Government

question 16

Multiple Choice

Employer choice of discretionary benefits does not depend on: (Government Regulation of Employee Benefits)

• A)Economic considerations
• B)Adequacy of legally required benefits
• C)Employee expectations
• D)Government mandates

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Definitions:

Commodity Money

Money that has intrinsic value, such as gold or silver, which can serve as a medium of exchange, a unit of account, and a store of value.

Fractional Reserve Banking

A financial system where just a small portion of the deposits at a bank is supported by real cash present and accessible for withdrawal.

Fiat Money

Fiat money is currency that a government has declared to be legal tender, despite it not being backed by a physical commodity.

Precious Metal

Rare, naturally occurring metallic elements of high economic value, typically used for currency, jewelry, and other arts because of their rarity, durability, and aesthetic qualities.