An Elective Savings Program Is When an Individual Cuts Back

question 31

True/False

An elective savings program is when an individual cuts back on spending for one to two months to obtain additional money for investment purposes.

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Definitions:

Social Contract

A theory or model that originated during the Age of Enlightenment and commonly refers to the implicit agreement among the members of a society to cooperate for social benefits, such as sacrificing some individual freedom for state protection.

Labor Disputes

Conflicts between employers and employees, often over issues like wages, working conditions, and union rights, which can lead to strikes, negotiations, and legislation.

National Association

A group or organization that operates across an entire nation, typically focused on promoting the interests of a specific profession, cause, or activity.

Mass Conformity

The phenomenon where individuals in a society tend to adopt the group’s attitudes, beliefs, and behaviors to fit in and be accepted.