According to the Federal Trade Commission, the Largest Type of Consumer

question 3

Multiple Choice

According to the Federal Trade Commission, the largest type of consumer fraud is:

• A) Identity theft
• B) Bogus MLMs
• C) Magazine fraud
• D) Telephone fraud

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Definitions:

Financial Institutions

Organizations that provide financial services, including banks, credit unions, insurance companies, and investment firms.

Financial Intermediaries

Institutions that act as a middleman between savers and borrowers, including banks, investment funds, and insurance companies.

Budget Deficit

The situation where a government's expenditures exceed its revenues over a specific period of time, leading to a need for borrowing or spending cuts.

Budget Surplus

The situation in which a government's revenues exceed its expenditures during a given period, indicating financial health.