Which of the Following Is NOT Correct

question 26

Multiple Choice

Which of the following is NOT correct?

• A) OAS is a demogrant.
• B) The retirement test has been eliminated in the Canadian pension plan.
• C) GIS is a part of the universal old age pension program.
• D) CPP/QPP is financed by the general tax revenue.
• E) Employer sponsored occupational pensions cover about one third of the labour force in Canada.

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Definitions:

Price Mechanism

A system where the forces of demand and supply determine the prices of goods and services.

Equitable Income Distribution

The goal of achieving a more fair and just allocation of income among all members of society, reducing income inequalities.

Efficiency

The optimal use of resources to achieve the desired output with minimum waste or expense.

Economic Role

The function or position a person, company, or thing occupies within an economic system, contributing to the system's overall operation.