Over the Period from 1982 to 2007, Economic Fluctuations

question 125

Multiple Choice

Over the period from 1982 to 2007, economic fluctuations

• A)have become more severe than in the past.
• B)have occurred more often than in the past.
• C)have not changed in severity when compared to past economic fluctuations.
• D)have become less severe than in the past.
• E)have occurred just as often as in the past.

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Definitions:

Statute of Frauds

A legal principle requiring certain types of contracts (e.g., real estate transactions, contracts not to be performed within one year) to be in writing to be enforceable.

Partially Performed

A term referring to a contract or agreement that has been started but not fully executed or completed.

Intended To Be Bound

A principle indicating that parties involved in an agreement wish and intend to be legally obligated under that agreement.

Void

Lacking legal validity or effect; something that is null and cannot produce any legal consequences.