X and Y Buy a House Together, Each Contributing Half

question 7

Multiple Choice

X and Y buy a house together, each contributing half of the cost.The house is registered in the name of X, that is, X is the legal owner of the house.X will be a trustee and Y will be a beneficiary under:

• A)An express trust.
• B)A resulting trust.
• C)A discretionary trust.
• D)A unit trust.

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Definitions:

Discretionary Fiscal Policies

Economic policies based on government spending and taxation that are undertaken intentionally by a government to influence its economy.

Aggregate Demand

The collective need for all products and services in an economy at a specific overall price level during a certain timeframe.

Real GDP

Gross Domestic Product adjusted for inflation, providing a more accurate depiction of an economy's size and how it's growing over time.

Aggregate Demand

The total demand for all goods and services in an economy at a given overall price level and in a given time period.