Whom of the Following Established a State Funded Pension Plan

question 7

Multiple Choice

Whom of the following established a state funded pension plan for retired workers over the age of 65?

• A) Otto von Bismarck.
• B) Winston Churchill.
• C) Vladimir Lenin.
• D) Franklin
• E) Roosevelt.

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Definitions:

Indifference Curve

A graph that represents combinations of goods among which a consumer is indifferent, showing the same level of satisfaction to the consumer.

Utility

A measure of satisfaction, usefulness, or pleasure derived from consuming goods and services.

Budget Constraint

A limit on the consumption bundles that a consumer can afford given the prices of goods and the consumer's income.

Utility

The satisfaction or benefit derived from the consumption of goods and services.