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Suppose good X has a negative income elasticity of demand.This implies that good X is
Cash Balance Plans
A type of pension plan where an employer credits a participant's account with a set percentage of their yearly compensation plus interest charges.
Defined-benefit Plans
Retirement plans in which an employer promises a specified pension payment upon retirement, based on the employee's earnings history, tenure of service, and age.
Defined-contribution Plans
A type of retirement plan where an employer, employee, or both make contributions on a regular basis, but future benefits depend on the investment's performance.
Employee Compensation
The total amount of monetary and non-monetary pay provided to an employee by an employer in return for work performed.
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