Superannuation Assets for Social Security Applicants Are Counted Towards the Assets

question 22

Multiple Choice

Superannuation assets for social security applicants are counted towards the assets test:

• A) and income is deemed under the deeming rules until the applicant reaches pension age.
• B) and income is deemed under the deeming rules once the applicant reaches pension age.
• C) but income will not be deemed under the deeming rules until the applicant reaches pension age.
• D) but income will not be deemed under the deeming rules once the applicant reaches pension age.

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Definitions:

Elasticity of Demand

A measure of how much the quantity demanded of a good or service changes in response to a change in its price.

Determinant

A factor or element that causes change in an outcome or condition, often used in reference to variables that affect economic indicators.

Cross Elasticity

A measure of how the quantity demanded of one good responds to a change in the price of another good.

Perfectly Inelastic

A situation in demand or supply in which the quantity demanded or supplied does not change regardless of changes in price.