Jared Works at a Software Firm

question 18

Multiple Choice

Jared works at a software firm.He is promoted to the post of senior engineer after three years of employment.Despite his promotion,he has to cut down on purchases as his cost of living has almost doubled within the same time period.This situation is characteristic of _____.

• A) inflation 
• B) a recession 
• C) deflation 
• D) disintermediation 
• E) deregulation

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Definitions:

Restrictive Endorsement

A limitation placed on the use of a check or other negotiable financial instrument, specifying conditions under which it can be transferred or cashed.

Stop Payment Order

A request made to a bank to cancel a check or payment that has not been processed yet.

Subrogation

The legal process by which one party stands in for another to claim restitution or indemnity from a third party for a loss or damage.

Improper Payment

Payments made by organizations that should not have been made or that were made in an incorrect amount.