In an Effort to Prevent Foreclosures in the Late 2000's

question 9

Multiple Choice

In an effort to prevent foreclosures in the late 2000's, housing policies not taken include all of the following except:

• A) underwriting standards
• B) subsidized mortgages
• C) starter homes
• D) credit counseling for new home buyers
• E) the SEC investigation of New Century Financial Corporation

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Definitions:

Economic Activity

The actions that involve the production, distribution, and consumption of goods and services within an economy.

Recession

A period of temporary economic decline during which trade and industrial activity are reduced, generally identified by a fall in GDP in two successive quarters.

Equation of Exchange

An economic identity that represents the relationship between the money supply, its velocity, the price level, and the number of transactions conducted, often formulated as MV = PQ.

Identity

The characteristics, attributes, or qualities that make a person or thing unique and distinguishable from others.