What Is Meant by the Term "Modified Extended Family

question 3

Multiple Choice

What is meant by the term "modified extended family"?

• A) This is a family that functions as an extended family even though they may not live in the same household.
• B) This is an extended family that includes a minimum of five generations within a household.
• C) This is a family of adults only and no children. It functions primarily as an economic unit.
• D) This is a family that is entirely fictive and affiliated and does not involve consanguineous relationships.

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Definitions:

Money Demand Curve

A visual depiction illustrating the connection between how much money individuals wish to retain and the rate of interest.

Interest Rate

The percentage charged on the total amount borrowed or paid on deposited funds over a specific time period.

Liquid Assets

Assets that can quickly and easily be converted into cash without significant loss in value.

Interest Rate

The percentage of a loan that is applied as interest for the borrower, usually expressed as an annual rate of the remaining loan balance.