Short-term vs Long-term Costs
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Questions and Answers

What is the relationship between the energy-efficiency of a home and its mortgage payment?

  • The energy-efficiency of a home does not affect the mortgage payment
  • The text does not mention the relationship between energy-efficiency and mortgage payment
  • A more energy-efficient home has a higher mortgage payment (correct)
  • A more energy-efficient home has a lower mortgage payment

    • What is the most important issue for a wise consumer when buying a new home?

  • The size of the home
  • The lowest price possible
  • The location of the home
  • The total price of owning and maintaining the home (correct)

    • What is the common behavior of consumers?

  • Consumers always spend as little as possible
  • Consumers often ignore the long-term cost of their expenditures (correct)
  • Consumers are not concerned with the cost of their expenditures
  • Consumers only focus on the short-term cost of their expenditures

    • What is the potential consequence of consumers focusing only on spending as little as possible in the short term?

    <p>They may overlook the long-term cost of their expenditures</p> Signup and view all the answers

    What should a wise homebuyer be interested in, in addition to the price of the mortgage?

    <p>The total price of owning and maintaining a home</p> Signup and view all the answers

    What is the relationship between the energy-efficiency of a home and its mortgage payment?

    <p>A more energy-efficient home usually has a higher mortgage payment</p> Signup and view all the answers

    Why is it important for a wise homebuyer to consider the total price of owning and maintaining a home?

    <p>To understand the long-term cost of their expenditures</p> Signup and view all the answers

    What is one potential consequence of a more energy-efficient home?

    <p>Higher mortgage payment</p> Signup and view all the answers

    What is the main focus of most homebuyers when purchasing a home?

    <p>Finding a home with the lowest price possible</p> Signup and view all the answers

    What is one potential consequence of consumers focusing only on spending as little as possible in the short term?

    <p>Consumers may end up paying more in the long run</p> Signup and view all the answers

    What is the relationship between the energy-efficiency of a home and its mortgage payment?

    <p>A more energy-efficient home usually has a higher mortgage payment</p> Signup and view all the answers

    What should a wise homebuyer be interested in, in addition to the price of the mortgage?

    <p>The total price of owning and maintaining a home</p> Signup and view all the answers

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