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Business English Exercises
 

Retirement and Pensions

Answers to test questions and links to explanations

Home > Teaching Business English > Business English Lessons, Advanced Level # 77
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retirement and pensions answer 1
The relationship between worker pensions and retirement is of considerable interest to management and economists.

Correct answer: (a) considerable

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retirement and pensions answer 2
The reduction in retirement age since World War II is usually attributed to greater pension benefits, both governmental and private.

Correct answer: (d) attributed

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retirement and pensions answer 3
The anticipated difficulties in financing current public pensions could be mitigated by changes that delayed worker retirement.

Correct answer: (c) mitigated

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retirement and pensions answer 4
Private pensions comprise a large percentage of individual wealth in most of the developed nations.

Correct answer: (d) comprise

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retirement and pensions answer 5
As a worker ages, both his productivity and the disutility of working another wage period will change.

Correct answer: (d) disutility

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retirement and pensions answer 6
In a perfect labor market, employers, who always pay workers the value of their output at any one time, will be indifferent to the age of retirement.

Correct answer: (b) output

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retirement and pensions answer 7
The most obvious reason for the existence of pensions is the tax advantage, since pension contributions are permitted to accumulate untaxed until retirement.

Correct answer: (c) contributions

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retirement and pensions answer 8
Both employers and employees benefit from a payment stream where workers receive less than the actual value of their work when they are young and more than the actual value of their work when old.

Correct answer: (d) stream

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retirement and pensions answer 9
This system reduces worker incentives for shirking and cheating and thereby raises their lifetime wealth.

Correct answer: (d) shirking

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retirement and pensions answer 10
General economic conditions also help determine actual retirement age: higher inflation and greater unemployment at the end of his career causes the worker to delay his retirement.

Correct answer: (b) delay

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Business English Practice Exercises Business English Tests — several topics are covered: office matters, job applications, computer English, money expressions, business law, operations management, retail marketing, e-commerce, accounting terms, contracts and agreements, commercial correspondence, etc.
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