When housing prices began to decline after their peak in 2006, many subprime borrowers found that their mortgages were "underwater." This meant that
A) the value of the house fell below the amount of the mortgage.
B) the basement flooded since they could not afford to fix the leaky plumbing.
C) the roof leaked during a rainstorm.
D) the amount that they owed on their mortgage was less than the value of their house.
A
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If the cross elasticity of demand is negative, that means the goods
A) have elastic demands. B) have inelastic demands. C) are complements. D) are substitutes. E) are inferior.
The overall regression F-statistic tests the null hypothesis that
A) all slope coefficients are zero. B) all slope coefficients and the intercept are zero. C) the intercept in the regression and at least one, but not all, of the slope coefficients is zero. D) the slope coefficient of the variable of interest is zero, but that the other slope coefficients are not.