Which of the Following Is a Common Misconception of a Common

question 97

Multiple Choice

Which of the following is a common misconception of a common law marriage?

• A) the parties have to voluntarily intend to be husband and wife in order to establish a common law marriage
• B) only parties who have a marriage license can establish a common law marriage
• C) living together is necessary to establish a common law marriage
• D) cohabitation is sufficient in and of itself to establish a common law marriage

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Definitions:

Equation of Exchange

An economic equation that represents the relationship between money supply, its velocity, price level, and the volume of transactions in an economy.

Velocity of Circulation

A measure of the rate at which money is exchanged in an economy, typically calculated as the ratio of nominal GDP to the money supply.

Supply-side Economics

Supply-side Economics is a macroeconomic theory that argues economic growth can be most effectively fostered by lowering taxes and decreasing regulation to increase production.

Milton Friedman

An American economist and Nobel laureate renowned for his research on consumption analysis, monetary history and theory, and the complexity of stabilization policy.