Which of the Following Is not a Requirement for a Valid

question 55

Multiple Choice

Which of the following is not a requirement for a valid contract?

• A) Legality
• B) Capacity
• C) Fairness
• D) Voluntariness

---

Definitions:

Money Supply

The complete collection of economic resources in money form available at a distinct period within an economy, which includes cash—both coins and notes—and amounts held in banking accounts for checking and savings.

Potential Output Level

The highest level of real gross domestic product (GDP) that can be sustained over the long term without increasing the rate of inflation.

Identity

The distinct characteristics, personality, or qualities that make an individual or group unique.

Quantity Theory of Money

A theory that relates the money supply to the price level and the rate of economic growth.