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How do the relative-price distortions caused by inflation create a misallocation of resources?
Funding Obligation
Refers to the requirement for an entity to provide financial resources for a project, debt, or other commitment as agreed upon.
Underfunded Plans
Retirement or pension plans that lack enough assets to cover all present and future obligations.
Life Insurance
Life insurance is a contract between an insurer and a policyholder in which the insurer guarantees payment of a death benefit to named beneficiaries upon the death of the insured.
Nonmandatory Benefits
These are benefits not required by law that employers offer voluntarily, such as retirement plans, health insurance beyond legal minimums, and paid time off.
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