Ryan Works at a Community College and the College Requires

question 81

Multiple Choice

Ryan works at a community college and the college requires all employees to contribute to a pension fund. At this time, he is not too worried about the safety of this contribution because

• A) the pensions fund's investments are always backed by the full faith and credit of the U.S. government.
• B) pension funds are provided by nonbanks so they are not going to take this money and lend it to others.
• C) he is considered a state employee, and as such, he is protected from this fund going bankrupt.
• D) pension funds usually make conservative investments.

Distinguish between normal and inferior goods based on consumer income levels.

Describe the impact of taxes and subsidies on consumer choices.

Explain the relationship between indifference curves and the utility maximization principle.

Identify how price changes of goods affect the consumption of complementary and substitute goods.

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Definitions:

Collective Bargaining

The process of negotiation between employers and a group of employees aimed at agreements to regulate working salaries, working conditions, benefits, and other aspects of workers' compensation and rights.

Counterproposal

A response to a proposal with an alternative offer or terms.

Prima Facie

A term meaning "on its face" or "at first glance," used to describe evidence that is sufficient to prove a fact unless contradicted by further evidence.

Employment Discrimination

Unequal treatment of employees or job applicants on the basis of race, color, national origin, religion, gender, age, or disability; prohibited by federal statutes.