Examlex
Which of the following statements is TRUE about the top-dog phenomenon?
Household Debt
The total amount of money that all members of a household owe to outside parties, including mortgages, credit cards, and loans.
Adjustable Rate Mortgages
A type of mortgage loan where the interest rate can change over time based on an index or benchmark.
Sub-Prime Loans
These are loans offered to individuals with poor credit histories or higher risk profiles at higher interest rates than standard loans.
Low Short-Term Interest Rate
A situation where the interest rates for borrowing funds for a short period are significantly lower than usual, typically indicating a policy aimed at stimulating economic growth.
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