INSTRUCTIONS: Choose the Word or Phrase in [ ] Which

question 67

Multiple Choice

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement.
-Walter left nothing to his wife in his will.His wife [is out of luck | can get the amount that the state intestacy laws would have given her].

• A)for the first item
• B)for the second item
• C)if neither item will correctly complete the statement.

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Definitions:

Financial Assets

Assets that derive value because of a contractual claim, such as stocks, bonds, bank deposits, and notes receivable.

Local Governments

Entities responsible for governing areas smaller than a state or province, often focusing on municipal or regional issues.

Federal Government

The national government of a federal country, which shares sovereignty with the subnational governments (states, provinces, etc.).

Government Purchases

Expenditures by government bodies on goods and services that directly contribute to a nation's aggregate demand.