Which of the Following Is Not a Characteristic of a Traditional

question 14

Multiple Choice

Which of the following is not a characteristic of a traditional IRA?

• A)For a married couple,the contribution limit doubles
• B)Individuals over 50 are allowed to make additional catch-up contributions
• C)Everyone is eligible regardless of income.
• D)10 percent penalty normally applies if funds are withdrawn before age 59-1/2.

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Definitions:

Labor Productivity

A measure of economic performance that compares the amount of goods and services produced with the number of hours worked.

Export Promotion

A development strategy that concentrates on producing for the export market

Import Substitution

An economic strategy aimed at reducing dependency on foreign imports through the local production of industrialized products.

Comparative Advantage

Comparative advantage is the ability of a country, individual, company, or region to produce a good or service at a lower opportunity cost than its competitors.