What Factor Explains Expanded Financial Planning Services in the 1970s

question 11

Multiple Choice

What factor explains expanded financial planning services in the 1970s?

• A)A middle class with increased discretionary income.
• B)The growing complexity of financial instruments and services.
• C)Personal financial planning developing as a profession.
• D)Magazines and other media that increased awareness of personal finance issues.
• E)All of the above.

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Definitions:

Budget Deficits

A financial situation where expenditures exceed revenue.

Federal Budget

An annual financial statement presenting the government's proposed revenues and spending for a fiscal year.

Crowds Out

Refers to the effect where increased government spending and borrowing reduce private investment in the markets.

Fiscal Policy

Governmental adjustments of its spending levels and tax rates to influence a nation's economy.