Zach Quit His Job to Open His Own Internet Consulting

question 139

Multiple Choice

Zach quit his job to open his own Internet consulting business. He now realizes that he no longer has the benefit of a corporate retirement system. He should consider investing in a(n) :

• A) simple 401(k) plan.
• B) simple IRA plan.
• C) automated trust account.
• D) Keogh plan.

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Definitions:

Quantity Demanded

The amount of a product consumers are willing to buy at a specific price, differentiating from the total market demand.

Relatively Inelastic

Relatively inelastic describes a scenario where the demand or supply for a product changes only slightly in response to changes in price.

Unitary Elasticity

A situation in which the percentage change in quantity demanded or supplied is equal to the percentage change in price.

Percentage Increase

A measurement that calculates the degree to which a value has risen compared to its previous value, expressed as a percentage.