Using the "Nonworking" Spouse Method,what Should Be the Life Insurance

question 172

Multiple Choice

Using the "nonworking" spouse method,what should be the life insurance needs for a family whose youngest child is 7 years old?

• A)$50,000
• B)$70,000
• C)$90,000
• D)$110,000
• E)$140,000

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Definitions:

Equilibrium Price

The price point in the market at which the supply of goods matches the demand for those goods.

Price Floor

A government-set minimum price for goods or services, above the market equilibrium price, aimed at preventing prices from falling too low.

Price Controls

Government-imposed limits on prices charged for goods and services to manage economy.

Deadweight Loss

A reduction in economic effectiveness that happens when a good or service does not reach or cannot reach its equilibrium.