Once Housing Prices Stopped Increasing in 2007, Refinancing

question 30

Multiple Choice

Once housing prices stopped increasing in 2007, refinancing:

• A) was no longer an option, and a wave of foreclosures occurred.
• B) only occurred through higher risk, subprime loans.
• C) allowed people to convert housing equity into more liquid forms of saving.
• D) became more popular, and people's consumption accelerated overall.

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Definitions:

Electron Vacancies

Electron vacancies refer to the absence of an electron in an atom's outer shell, creating a condition that can lead to the atom forming chemical bonds with other atoms to fill this gap.

Carbon Atom

The chemical element with symbol C and atomic number 6, serving as a key building block for organic molecules in living organisms.

Polypeptide Chains

Long chains of amino acids linked by peptide bonds, which fold into specific three-dimensional structures to form proteins.

Beta-Globin

A component of hemoglobin, the protein in red blood cells that carries oxygen, responsible for one part of its two-part structure.