In the Events of the Housing Bubble Collapsing,once the Housing

question 23

Multiple Choice

In the events of the housing bubble collapsing,once the housing prices stopped increasing:

• A)refinancing was no longer an option,and a wave of foreclosures occurred.
• B)refinancing no longer allowed people to borrow cash on the new value of their home,and spending slowed.
• C)refinancing became less popular,and people's consumption overall dropped.
• D)refinancing became more popular,and people's consumption accelerated overall.

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Definitions:

Inner City Ghettos

Urban areas characterized by high levels of poverty, decay, and lack of access to quality education and jobs, often marginalized from mainstream economic and social activities.

Outward Migration

Describes the movement of people away from a particular area, country, or region to settle in another, often for reasons such as employment, better living conditions, or education.

Minimally Acceptable

The lowest standard or level of quality considered satisfactory for a specific purpose or requirement.

Annual Food Budget

An annual food budget refers to the total amount of money allocated for the purchase of food over the course of a year.