The Law of Supply and Demand Asserts That

question 129

Multiple Choice

The law of supply and demand asserts that

• A)demand curves and supply curves tend to shift to the right as time goes by.
• B)the price of a good will eventually rise in response to an excess demand for that good.
• C)when the supply curve for a good shifts,the demand curve for that good shifts in response.
• D)the equilibrium price of a good will be rising more often than it will be falling.

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Definitions:

ERISA

The Employee Retirement Income Security Act of 1974, a federal law that sets minimum standards for most voluntarily established pension and health plans in private industry to protect individuals in these plans.

Minimum Funding Requirements

Regulated benchmarks that pension plans or other forms of retirement funds must reach to ensure they have sufficient assets to meet future obligations.

Plan Assets

Investments and other assets held by a pension or retirement plan to fund the benefits promised to participants.

GAAP

Generally Accepted Accounting Principles, a common set of accounting principles, standards, and procedures under which financial statements are prepared, applicable within a specific jurisdiction or country.