Flexible Benefit Programs Can Involve

question 10

Multiple Choice

Flexible benefit programs can involve:

• A)lower administrative costs
• B)lower employee participation
• C)increased obligation on behalf of the human resource department to communicate with employee's medical coverage
• D)greater employee clarity about what benefits are offered
• E)less involvement by the human resource department

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Definitions:

Money Supply

The entire financial capacity of an economy, taking into account cash, coins, and the amounts in both checking and savings accounts, at a specific point in time.

Required Reserve Ratio

The percentage of deposits that banks are legally required to keep on hand as reserves, not loaned out.

Excess Reserves

Excess reserves are the capital reserves held by banks beyond the required minimum, often placed with central banks, earning interest.

Money Supply

The total amount of monetary assets available in an economy at a specific time, which includes cash, coins, and balances held in checking and savings accounts.