The Babylonian Law Code Can Be Described as a

question 21

Multiple Choice

The Babylonian law code can be described as a

• A)humane code that took into consideration human mistakes.
• B)relativistic code that was subject to many interpretations.
• C)code created by a committee of lawyers.
• D)code based on retaliation.

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Definitions:

Savings

The portion of income not spent on consumption, often set aside for future use or investment.

Equilibrium

A condition where the supply and demand in the market are in equilibrium, leading to stable prices.

Full Employment

A situation in an economy where all individuals who are willing and able to work at current wage levels are employed, with minimal levels of unemployment.

Keynes

John Maynard Keynes was a British economist whose ideas fundamentally affected the theory and practice of modern macroeconomics and the economic policies of governments.