Susan Bize Owns a Home in Edmond,Oklahoma

question 77

Multiple Choice

Susan Bize owns a home in Edmond,Oklahoma.She has a coffee maker in the home that has been recalled because it is likely to start fires.The coffee maker is an example of a:

• A)peril.
• B)hazard.
• C)risk.
• D)premium.
• E)deductiblE.

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Definitions:

Fiscal Policy

Government policies related to taxation and public spending with the aim of influencing economic conditions, including growth, inflation, and unemployment rates.

Legislation

Laws and statutes that are enacted by a legislative body through its legislative process.

Marginal Propensity

The portion of additional income that an individual spends on consuming goods and services, as opposed to saving.

Multiplier

An economic factor that quantifies the impact of a change in investment, government spending, or other economic variables on the overall economy, often leading to a multiple increase in income or output.