This Is Also Known as an Inter Vivos Trust

question 10

Multiple Choice

This is also known as an inter vivos trust.

• A) Credit-shelter trust
• B) Disclaimer trust
• C) Irrevocable trust
• D) Living trust
• E) Testamentary trust

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Definitions:

Productive Efficiency

A situation where the economy or a production system can no longer produce additional amounts of a good without lowering the production level of another product.

Severe Recession

An extended period of significant decline in economic activity across the economy, lasting more than a few months, characterized by high unemployment, low consumer spending, and decreased industrial production.

Depression

An extended period of significant decline in economic activity across a country or the global economy, marked by high unemployment rates, low consumer spending, and decreased industrial output.

Unemployment Rate

The portion of the workforce currently unemployed but actively searching for work opportunities.