Income Mobility Studies Suggest That Poverty

question 66

Multiple Choice

Income mobility studies suggest that poverty

• A) cannot be alleviated by privately sponsored anti-poverty programs.
• B) cannot be alleviated by government sponsored anti-poverty programs.
• C) is a long-term problem for a relatively large number of families.
• D) is not a long-term problem for most families.

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Definitions:

Mortgage Insurance

An insurance policy designed to protect the lender from the risk of the borrower defaulting on a mortgage.

Mortgage Loan

A loan secured by real property through the use of a mortgage note which evidences the existence of the loan and the encumbrance of that realty.

Down Payment

An initial, upfront payment made towards the purchase of a high-value item, like real estate or a vehicle, typically representing a percentage of the total purchase price.

Statute of Frauds

A legal principle that requires certain types of contracts to be written in order to be enforceable.