As the Housing Bubble Began to Collapse, the Wave of Initial

question 106

Multiple Choice

As the housing bubble began to collapse, the wave of initial foreclosures led to:

• A) banks no longer offering refinancing as an option, and home sales slowed.
• B) more foreclosures due to the herd instinct.
• C) more household saving in other forms.
• D) banks flooding the market with homes for sale, further depressing their price.

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Definitions:

Massacre

An event involving the deliberate and violent killing of a large number of people.

Medal of Honor

The highest military decoration awarded by the United States to recognize U.S. military service members who have distinguished themselves by acts of valor.

Labor Movement

A social and political movement aimed at improving rights, conditions, and wages for workers through unions and labor laws.

Wealth

An accumulation of valuable financial assets or physical possessions which can include money, real estate, and personal property.