Examlex

Solved

Mortgages Issued to Individuals with Low Incomes and Poor Credit

question 13

Multiple Choice

Mortgages issued to individuals with low incomes and poor credit history are called


Definitions:

Consumption

The act of consuming goods and services either by individuals or society as a whole, central to economic analysis of demand and spending.

Income

The money received, usually on a regular basis, for work or through investments.

Interest Rate

The segment of a loan levied as interest upon the borrower, customarily indicated as an annual proportion of the loan yet to be repaid.

Utility Function

A representation in economics that expresses the preference ordering of various utility levels or consumption bundles by individuals or firms.

Related Questions