Higher Home Values Can Increase Output in the Economy If

question 78

Multiple Choice

Higher home values can increase output in the economy if:

• A) people take some of the equity out of their homes and spend it on a vacation.
• B) people sell their existing home and build a new one.
• C) people finance their child's college education by securing a second mortgage on their now higher-valued home.
• D) all of the answers given are correct.

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Definitions:

Consequential Damages

Indirect damages that can be recovered if they were reasonably foreseeable at the time the contract was made and result from a party's breach of contract.

UCC

Uniform Commercial Code, a comprehensive set of laws governing commercial transactions in the United States, including sales, leases, negotiable instruments, and secured transactions.

Limitation

A restriction or boundary that defines the scope or extent of something.

Statute of Limitations

A law that sets the maximum period one can wait before filing a lawsuit, depending on the type of case.