Which of the Following Is a Drawback of Employee Retirement

question 41

Multiple Choice

Which of the following is a drawback of Employee Retirement Income Security Act of 1974?

• A)Lower-level employees did not get protection under the act.
• B)The act failed to address portability issues when employees changed jobs.
• C)The act and its amendments did not cover fiduciary responsibilities.
• D)The act is believed to cause discrimination amongst employees of an organization.
• E)Reporting and disclosure rules were not given importance in the act.

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Definitions:

Imperfectly Competitive

Describes a market structure where firms have some degree of market power and can influence prices, unlike in perfect competition.

Purely Competitive

A market structure characterized by a large number of small firms, homogenous products, and easy entry and exit, leading to firms being price takers.

Resource Demand Curve

A graphical representation showing the relationship between the price of a resource and the quantity of the resource demanded by employers.

Marginal Product

The additional output that results from using one more unit of a specific input, holding all other inputs constant.