In 2008, foreclosures reached a record high. Which of the following is NOT a possible reason for foreclosures?
A) Many mortgages were initiated without a down payment.
B) Many mortgages were initiated on secondary and investment homes.
C) Some mortgages were adjustable rate mortgages which might have dramatically increased monthly payments for some.
D) Property values were increasing too fast.
D
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The value of production generated by a country's factors of production within the borders of foreign countries during a particular year was $51,000 and the production of foreign factors of production within the borders of the country during that year
was worth $80,000. Which of the following is likely to be true in this case? A) The GDP of the country equals its trade balance. B) The GDP of the country is lower than its GNP. C) The GDP of the country is higher than its GNP. D) The GDP of the country equals its GNP.
An increase in business taxes is likely to reduce aggregate demand because of a decrease in private investment.
a. true b. false