A Mortgage Is an Asset of a Bank and a Liability

question 70

True/False

A mortgage is an asset of a bank and a liability of a homeowner.

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Definitions:

Unemployment Spells

Periods during which an individual is without work but is available for and seeking employment.

Unemployed Person

An individual who is capable of working, actively seeking work, but unable to find a job.

U-3 Measure

A specific unemployment rate measure that counts the number of unemployed individuals who are actively seeking employment as a percentage of the labor force.

Official Unemployment Rate

The percentage of the labor force that is jobless and actively seeking employment, as determined by government statistics.