Which of the Following Is a Federal Law That Sets

question 74

Multiple Choice

Which of the following is a federal law that sets minimum standards for most voluntarily established pension and health plans in private industry to provide protection for individuals in those plans?

• A) The Employee Retirement Income Security Act
• B) The Benefits Protection Act
• C) The Family and Medical Leave Act
• D) The Fair Labor Standards Act
• E) Workers' compensation laws

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Definitions:

Variable Cost

Costs that change in proportion to the level of output in the production process.

Marginal Product

The marginal product is the additional output produced as a result of using one more unit of a particular input, holding all other inputs constant.

Average Variable Cost

The total variable costs divided by the quantity of output produced, indicating the variable cost per unit of output.

Average Fixed Cost

Average fixed cost is the fixed cost per unit of output, calculated by dividing total fixed costs by the number of units produced, which decreases as production increases.