The given statement is FALSE.
Explanation:
This is an example of adverse selection.
Adverse selection applies to a case in which the purchasers and distributors of the insurance policy don't have the same details at their fingertips. A typical definition of health insurance is where a person wants to learn if he is ill and in need of health coverage before paying for a health insurance package.
Examples of adverse selection in life insurance involve cases when a person with a high-risk career, such as a racing car driver or someone dealing with weapons, obtains a life insurance policy without the need for an insurance provider realizing that they have a risky position.
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Since this pertains to ethnicities, race and lifestyles, these companies must have targeted the diversity in the U.S population. The diversity is a result of modern technology and modern views of the social norms. Because of this, lifestyles and personalities vary from one person to each other. To a businessman, he must cater to everyone's taste if he wants more profit.
Answer:
If the government sets out to make home buying easier for more people by forcing lenders to accept LOWER down payments and LOWER interest rates, the result will likely be an INCREASE in housing prices
Explanation:
If either interest rates or down payment amounts lower, the quantity demanded for houses will increase a little, possible leading to a small increase in the prices of houses.
If both interest rates and down payment amounts lower, then the quantity demanded for houses should increase a lot, which will result in an increase in the prices of houses.
This happened during the first decade of our century and everything was fine until the interest rates started to increase and people could no longer pay their mortgages and BOOM, the economy busted.
Answer: See explanation
Explanation:
The appropriate entries for Maywood on January 1, 2021 and December 31, 2021, related to the lease goes thus:
January 1, 2021:
Debit Right of use asset $368291
Credit Lease payment $368291
December 31, 2021:
Debit Ammortization expense $92073
Credit Rights of use asset $92073
Debit Interest expense $25780
Debit Lease payable $78220
Credit Cash $104000
The working to the above entries has been attached
