The Merger of the Courts of Chancery with the Courts

question 13

True/False

The merger of the courts of chancery with the courts of common law has resulted in judges abandoning the philosophy of equity when deciding cases.

---

Definitions:

MPC (Marginal Propensity to Consume)

A measure of the change in consumption resulting from a change in income; specifically, the proportion of additional income that is spent on consumption.

Multiplier

A factor by which an initial change in spending will alter total economic output by a greater amount.

Multiplier Effect

The proportionate increase in final income that results from an injection of spending (initial increase in spending), typically influencing the level of national income and output.

Government Builds

Refer to initiatives or infrastructure projects undertaken by a government to develop or enhance the country's physical assets and services.