When Troy Meyer Started His New Job,he Was Offered a Cafeteria

question 50

Multiple Choice

When Troy Meyer started his new job,he was offered a cafeteria plan from which he could choose items such as health care,vision care,child care,life insurance,and membership at the company's gym.This is likely a type of

• A) employee benefit.
• B) employee orientation.
• C) flexible benefit plan.
• D) employee empowerment.
• E) incentive payments.

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Definitions:

Relatively Inelastic

Term indicating that the demand or supply for a good or service changes only slightly in response to changes in price.

Percentage Increase

A mathematical calculation to determine the relative growth of a value by a certain percentage.

Ceteris Paribus

A Latin phrase meaning "all other things being equal," used in economics to indicate that other variables remain constant during an analysis.

Producer Surplus

The difference between the price at which producers are willing to sell a good and the actual market price they receive.