When Housing Prices Fell as They Did Beginning in 2006

question 121

Multiple Choice

When housing prices fell as they did beginning in 2006 following the housing market bubble,most banks and other lenders ________ the requirement for borrowers,making it ________ for potential home buyers to obtain mortgages.

• A)tightened; easier
• B)tightened; harder
• C)eased; easier
• D)eased; harder

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Definitions:

Modeling

A social learning process where individuals learn behaviors, skills, or attitudes by observing others.

Frustration-Aggression Principle

A theory suggesting that frustration often leads to aggressive behavior as individuals seek to fulfill unmet needs or goals.

Culture of Honor

A cultural paradigm that emphasizes honor, dignity, and a readiness to respond to insults, often with aggression, particularly prevalent in certain societies or communities.

Just-World Phenomenon

The cognitive bias that a person's actions are inherently inclined to bring morally fair and fitting consequences to that person.