Jana Just Became a Citizen of a Country and Is

question 11

Multiple Choice

Jana just became a citizen of a country and is granted the right to participate in a program that will give her a pension when she retires. What is this kind of program also known as?

• A) solvency
• B) invisible labor
• C) entitlement
• D) intergenerational transfer

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Definitions:

Per-unit Costs

Refer to the average cost for each unit of a product or service that is produced, including all relevant expenses.

Marginal Costs

The additional cost incurred by producing one more unit of a good or service.

Fixed Costs

Costs that do not change with the level of output or sales, such as rent, salaries, and insurance, remaining constant regardless of business activity levels.

Marginal Product

The increase in output that results from employing one more unit of a particular input, holding all other inputs constant.