Zero-down mortgages meant that borrowers were ______.
a. more motivated to find a way to pay their mortgage
b. more likely to default and walk away from their mortgage
c. less able to borrow more than they could afford
d. more able to build equity quickly
b. more likely to default and walk away from their mortgage
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In order to maximize profits, firms organize their production using
A) only a command system. B) only an incentive system. C) a combination of command and incentive systems. D) neither a command nor an incentive system.
The supply curve of a uniquely talented actor or superstar athlete will be perfectly inelastic
Indicate whether the statement is true or false
If there were a decreased fraction of divorced couples and an increase in the proportion of two-income families: a. both would tend to increase measured income inequality
b. both would tend to decrease measured income inequality. c. the decreased fraction of divorced couples would tend to increase measured income inequality, but the increase in the proportion of two-income families would tend to decrease measured income inequality. d. the decreased fraction of divorced couples would tend to decrease measured income inequality, but the increase in the proportion of two-income families would tend to increase measured income inequality.
Which of the following statements reflects a situation in which there are external benefits?
A. John's decision to get vaccinated for smallpox reduces the chances that his neighbor Pete will get smallpox. B. John paints his house and cleans his paintbrushes in the nearby stream. C. John sells his car to his neighbor Pete at half the first-hand price. D. John pays 5 percent of his income as taxes.