When Housing Prices Fall,as They Did Beginning in 2006 Following

question 221

Multiple Choice

When housing prices fall,as they did beginning in 2006 following the housing market bubble,consumption spending on furniture,appliances,and home improvements ________ as many households found it ________ to borrow against the value of their homes.

• A)declined; easier
• B)declined; harder
• C)increased; easier
• D)increased; harder

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Definitions:

F-statistic

A value derived from an ANOVA (Analysis of Variance) test, used to determine if the means between two populations are significantly different.

Analysis of Variance (ANOVA)

A statistical method used to compare means of three or more samples.

Numerator

The top number in a fraction that represents the part of the whole being considered or counted.

Denominator

The bottom number in a fraction that represents the total number of equal parts the whole is divided into.