Which of the Following Is True

question 71

Multiple Choice

Which of the following is true?

• A) A recession is defined as two or more successive quarters in which the economy shrinks instead of grows.
• B) A recession is defined as two or more quarters in which unemployment rates are above 7 percent.
• C) Unemployment is defined as the total number of workers who are not in the work force in any given quarter.
• D) Inflation is defined as a sudden rise in prices for hot commodities like gasoline and electronics.
• E) All of the above are true.

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Definitions:

Purchase Money Security Interest

A legal claim that allows creditors to repossess property if the purchaser fails to make payment.

Personal Property Security Act

Legislation that regulates security interests in personal property, ensuring secured parties' rights are protected.

General Security Agreement

A legal document used by lenders that secures a loan with the borrower's assets as collateral.

Garnishee

Person owing money to a judgment debtor.