Which of the Following Situations Best Describes an Individual Who

question 162

Multiple Choice

Which of the following situations best describes an individual who is cyclically unemployed?

• A) Catherine is a ski instructor who is not working because it is summer.
• B) Matthew was an artillery man, but he has been unable to find work since he left the army.
• C) Nicholas was laid-off when orders for General Motors cars fell during a recession.
• D) Susan quit her job as a preschool teacher to try to find a better paying job.

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Definitions:

Dodd-Frank Act

A United States federal law that places regulation of the financial industry in the hands of the government, aimed at reducing risks in the financial system.

Consumer Financial Protection Bureau

A U.S. government agency aimed at ensuring consumer protection in the financial sector and enforcing laws related to financial products and services.

Legislative Approval

The formal consent given by a legislative body to enact a proposed piece of legislation into law.

ARMs

Adjustable-Rate Mortgages, which are loans with interest rates that change over time based on market conditions.