Buying Your Own Home Is Often Mentioned as "The Best

question 97

Multiple Choice

Buying your own home is often mentioned as "the best investment you can make." In 1964,the average home sale price was $19,600.By 2009,the average home sale price had risen to $272,900.What was the average annual rate of change in the price of houses over this 45 year time period?

• A)3.74% per year
• B)6.03% per year
• C)10.52% per year
• D)12.16% per year

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Definitions:

Relational Bias

The tendency to perceive or judge in favor of those with whom one has a close relationship or to whom one feels similar.

Self-Disclosure

The sharing of information about oneself.

Xiao

In Confucian philosophy, the virtue of filial piety or respect towards one’s parents and ancestors.

Social Interdependence

A theory suggesting that the outcomes for individuals in any situation are determined by the actions and decisions of others, emphasizing the importance of cooperative goals over competitive ones.