As the Housing Bubble Collapsed, as More Foreclosures Occurred, and the Supply

question 22

Multiple Choice

As the housing bubble collapsed, as more foreclosures occurred, and the supply of homes for sale:

• A) increased, it further decreased home values, which led to more foreclosures.
• B) increased, the price of homes fell, and so the demand for homes increased.
• C) decreased, as homeowners no longer wanted to sell their homes when prices were low.
• D) decreased, as homeowners refused to sell when they owed more than the market value.

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Definitions:

Ordinal

Pertaining to a type of data or scale that reflects order or ranking among categories, without indicating magnitude differences.

Categorical

Pertaining to data that can be divided into specific groups or categories that are qualitatively distinct from each other, such as gender or color.

Ordinal

A type of qualitative data that involves order or ranking of the values, but the intervals between the values are not necessarily uniform.

Ratio

A comparative statistic that shows the relative size of two numbers or quantities to each other, expressed as "x to y" or x:y.