Which Does NOT Explain Why the 1997-2006 Housing Boom Increased

question 174

Multiple Choice

Which does NOT explain why the 1997-2006 housing boom increased aggregate demand?

• A) The construction sector created new employment and higher wages.
• B) Homeowners felt wealthier as they saw their homes rising in value every year.
• C) Homeowners tended to spend more money and even borrow money,hoping that rising wealth from the home values will let them repay the money in the future.
• D) During the boom,some builders were working 60 or 80 hours a week instead of 40.

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Definitions:

Health Care Quality Improvement Act

A federal statute enacted to improve the quality of medical care, largely by restricting the ability of physicians with a history of malpractice from moving to another state to escape their history.

Ordinary Care

The reasonable level of care, diligence, and judgment that a person in a particular profession is expected to exercise under specific circumstances.

Internal-Unstable

Attributes in attributing causation for an event or behavior to factors inside a person that can change, such as effort or mood.

External-Stable

An attributional pattern where success or failure is attributed to enduring factors outside an individual's control.