Option and 2/28 Mortgages

question 76

Multiple Choice

Option and 2/28 mortgages

• A)have contributed to the subprime mortgage crisis.
• B)are used by high income individuals in need of jumbo financing.
• C)are subsidized by the federal government.
• D)have a high initial rate that declines when the borrowers credit rating improves.

Analyze the motivations behind and the effects of the coinage of silver.

Recognize important legislation of the period, such as the Pendleton Civil Service Act, the Interstate Commerce Act, and civil rights legislation, and understand their objectives and impacts.

Identify the social and economic challenges faced by American farmers in the late nineteenth century.

Discuss the role and influence of public opinion, media, and recreation on politics during the Gilded Age.

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Definitions:

Profit

The financial gain obtained when the revenue from selling goods or services exceeds the costs involved in their production or provision.

Production Function

A production function is an equation that describes the maximum output of a good or service an economy or firm can produce given the input resources it has available.

Labor

The human effort, whether physical or mental, used in the production of goods and services.

Output

The total amount of goods or services produced by a firm, industry, or economy.