A gerund phrase is the phrase that has a gerund, which is a noun derived from a verb in its base form plus -ing. The gerund phrase can also include other objects to complement it. In this sentence, the correct choice that identifies the gerund phrase is "making the class laugh constantly" because it is the only option that actually contains a gerund: making.
I personally am not 100% sure but my guess would be SAID as it is the only word showing an action.
One of the causes for America's 2009 economic crisis was the invention of subprime mortgages, for 'second class' clients, who previously did not have access to credits, but the innovation of securitizing these mortgages arose, clients paid only interest the first years, making the quotas lower, but the interest rates were variable and then they were increasing and the salaries were being eaten by those payments, the central bank allowed the rules of the game to be changed, because of the crisis that was coming, this left thousands of Americans unemployed and without homes. In all this the government did not intervene favorably, on the contrary, after a while it helped the financial system to recover, but no citizen could do it.
