Chris,aged 62,is an Employee of Magnatrix Inc

question 100

Multiple Choice

Chris,aged 62,is an employee of Magnatrix Inc.,a small company with 12 employees.The CEO of Magnatrix,Kathy,asks Chris to retire as the company is planning to reduce its financial budget.Kathy also mentions that Chris is entitled to $50,000 a year in retirement benefits.Chris does not want to be forced into retirement,and he decides to sue Magnatrix for age discrimination.In this scenario,Chris cannot sue for discrimination under the Age Discrimination in Employment Act because

• A) he is entitled to $50,000 a year in retirement benefits.
• B) he is older than 60 years.
• C) Magnatrix has only 12 employees.
• D) it is legal for Magnatrix to force any employee into retirement.
• E) he was not fired from Magnatrix.

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Definitions:

Trade

The exchange of goods, services, or both between two or more parties, either within a country or between countries.

Consumer Surplus

The difference between the total amount that consumers are willing and able to pay for a good or service relative to what they actually pay.

Producer Surplus

The difference between what producers are willing to sell a good for and the actual price they receive, reflecting the producer's benefit.

Crude Oil

A naturally occurring, unrefined petroleum product composed of hydrocarbon deposits and other organic materials used as a fuel and in the production of chemicals, plastics, and other materials.