What Is the Term Used for the Situation Where Employees

question 65

Multiple Choice

What is the term used for the situation where employees are allowed to pick and choose from among a menu of benefit options?

• A) flexible pay
• B) benefit menu options
• C) flexible benefits
• D) benefit participation
• E) flex time

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Definitions:

Producer Surplus

The difference between the amount producers are willing to sell a good for and the actual amount they receive due to market price.

Good X

An unspecified product or commodity in economics, used in theoretical models and discussions.

Producer Surplus

The difference between the actual price producers receive for a product and the minimum price they would accept.

Supply Curve

A graphical representation of the relationship between the price of a good and the quantity supplied by producers.