With Regard to Combining Members' Preferences to Reach a Consensus,the

question 10

Multiple Choice

With regard to combining members' preferences to reach a consensus,the impossibility theorem states that:

• A)there is not a best way to derive a group's preference from combining individual preferences
• B)there is not a best way to derive individual preferences from analyzing a group's overall preference
• C)groups take much longer to reach agreement than two-party negotiations
• D)groups often fail to see a positive bargaining zone when it actually exists

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Definitions:

Years-Of-Future-Service Method

An actuarial technique used to calculate pension benefits, taking into account the expected years of service remaining for an employee.

Defined Benefit Pension Plan

A retirement plan where employee benefits are calculated using a formula that considers several factors, such as length of employment and salary history, with the employer bearing the investment risk.

Projected Benefit Obligation

An actuarial estimation of the present value of all the benefits earned by employees, taking into account expected future salary increases.

Pension Plan Assets

Funds and investments held by a pension fund to meet future obligations to retirees.