The Community Reinvestment Act (CRA) was passed in 1977 to encourage financial institutions to_________________________. It was revised in 1995 to ____________ the percentage of mortgage loans going to low- and moderate-income borrowers
A) lend to only the most qualified borrowers; increase
B) meet the needs of borrowers in all segments of their communities; decrease
C) meet the needs of borrowers in all segments of their communities; increase
D) lend to only the most qualified borrowers; decrease
C
You might also like to view...
Refer to Figure 24-2. Ceteris paribus, a decrease in the expected future price level would be represented by a movement from
A) SRAS1 to SRAS2. B) SRAS2 to SRAS1. C) point A to point B. D) point B to point A.
Marginal cost regulation of a natural monopoly: a. generates economic losses for the seller
b. necessitates a subsidy payment to the firm. c. imposes a price that is less than average total cost. d. is characterized by all of the above.
One benefit of automatic stabilizers is that they
a. decrease consumption during a recession below what it would otherwise be b. make GDP more volatile c. cause the cyclical deficit to fall during a recession d. increase consumption during a recession above what it would otherwise be e. increase consumption during an expansion above what it would otherwise be
Open market operations are related to:
A. the Fed's buying and selling of government securities. B. actions taken by the Fed to close or merge weakened banks. C. changes in the reserve requirement. D. changes in the discount rate.