Newman (Cited by Aulette)studied the Families of Middle-Class Managers Who

question 40

Multiple Choice

Newman (cited by Aulette) studied the families of middle-class managers who had been downsized or laid off.She found that their initial response was

• A)to express anger and frustration,sometimes at each other.
• B)to start networking,telling friends about their situation in hopes of finding another job quickly.
• C)to try to cover up their downward mobility and make it appear that nothing had changed.
• D)to fantasize about a totally different career and consider returning to school.

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Definitions:

Life Insurance Policy

A contract between an insurer and an insured, where the insurer promises to pay a designated beneficiary a sum of money upon the death of the insured person.

Bank

A financial institution licensed to receive deposits, offer loans, and provide various financial services to individuals and businesses.

Novation

The act of replacing an old contract with a new one, substituting a new party into an existing agreement.

Mortgage

A legal agreement by which a bank or creditor lends money at interest in exchange for taking title of the debtor's property, with a clause for voiding the agreement upon repayment.