Efforts to increase homeownership include all the following EXCEPT
A) requiring lower down payments.
B) penalizing first-time homebuyers for using funds from IRA's.
C) requiring loan applicants to have better credit.
D) lowering closing costs for first-time home buyers.
Answer: C) requiring loan applicants to have better credit.
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A commitment device is:
A. an arrangement entered into by an individual with the aim of helping fulfill a plan for future behavior that would otherwise be difficult. B. a way to deal with time inconsistency. C. something that helps people conquer their vices. D. All of these are true.
Exclusion of which of the following tends to understate the true level of unemployment in the economy?
a. Children. b. Retired persons. c. Students. d. People who do not want to work. e. Discouraged workers.
Lawyer Ayres and economist Levitt considered the net benefits of installing a LoJack from the society's standpoint positive, because the annual installation and service charges on this equipment was:
a. more than the average loss per stolen car. b. higher than the auto theft insurance paid by car owners c. lower than the auto theft insurance paid by car owners. d. less than the average loss per year due to deterred theft.
The three questions every economic system must answer must include which of the following?
a. Where the goods and services should be produced? b. What goods and services should be produced? c. Who should produce the goods and services? d. All of the questions must be answered for the economic system to work.