According to Former Federal Reserve Chairman Alan Greenspan, the Fed

question 3

Multiple Choice

According to former Federal Reserve Chairman Alan Greenspan, the Fed became concerned about subprime lending in 2000; however,

• A) the global demand for mortgage-backed security ended in 2005.
• B) the quality of mortgage products began to deteriorate in 2005.
• C) the global demand for mortgage-backed security started in 2003.
• D) the quality of mortgage products began to deteriorate in 2003.
• E) the global demand for mortgage-backed security ended in 2008.

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Definitions:

Referenda

Laws or constitutional amendments put on the ballot by state legislators.

Proposed Law

A suggested rule or set of rules that is brought forward for consideration, debate, and possibly adoption by a legislative body.

Rule of Men

A system of governance where laws and decisions are made based on the whims, desires, or personal judgments of individuals, rather than based on a system of laws or principles.

Democratic Governance

A system of government in which power is vested in the people, who rule either directly or through freely elected representatives.