Judy and James Have a 4-Year-Old Child

question 79

Multiple Choice

Judy and James have a 4-year-old child.They plan to purchase life insurance using this formula: Current income × 7 × 70%.Which method are they using to determine their life insurance needs?

• A) Easy method
• B) Dual income, no kids method
• C) Formal calculation method
• D) Nonworking spouse method
• E) Family needs method

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Definitions:

Internal Colonialism

A concept describing how a country's dominant group exploits minority groups for economic gain, similar to traditional colonialism but within national borders.

Multiculturalism

A policy or ideology that promotes the presence and support of several distinct cultural or ethnic groups within a society.

Split Labour Market Theory

An economic theory suggesting that divisions within the labor market, based on race, ethnicity, or other factors, create unequal opportunities and wages.

Internal Colonialism

The policy or practice of exploiting minority groups within a country, treating them as colonial subjects.