Which of the Following Is a Benefit of Owning a Home

question 164

Multiple Choice

Which of the following is a benefit of owning a home?

• A) Having a place to live.
• B) Having a mortgage payment offset by income from renters.
• C) Having an investment that you could sell later for a profit.
• D) All of these answer choices are correct.

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Definitions:

Current Consumption

The portion of income or resources that is spent on goods and services at the present time, as opposed to saving for future consumption.

Budget Line

A graphical representation of all possible combinations of two goods that can be purchased at given prices and within a given budget.

Interest Rate

The percentage at which interest is paid by borrowers for the use of money that they borrow from a lender.

Inflation Rate

The percentage increase in the general level of prices for goods and services over a certain period, reflecting the decreasing purchasing power of money.