For Part-Time Employees to Be Eligible to Be in a Company's

question 17

Multiple Choice

For part-time employees to be eligible to be in a company's retirement plan,which two qualifications must be met?

• A)age 21 or older and worked 2000 hours in a year of service
• B)age 21 or older and worked 1000 hours in a year of service
• C)age 18 or older and worked 2000 hours in a year of service
• D)age 18 or older and worked 1000 hours in a year of service

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Definitions:

Collusion

An agreement, usually secretive, between two or more parties to limit competition, set prices, or manipulate market conditions.

Cartel Members

Firms or entities that agree to control prices and production to monopolize a market or restrict competition.

Incentive To Cheat

The motivation or tendency to deceive or engage in dishonest practices for personal gain, often seen in competitive situations.

Kinked-Demand Curve

A demand curve that has a flatter slope above the current price than below the current price. Applies to a noncollusive oligopoly firm if its rivals will match any price decrease but ignore any price increase.