If Nothing Definite Is Stated About the Time Limit of an Offer

question 43

Multiple Choice

If nothing definite is stated about the time limit of an offer, it continues

• A) for a reasonable time, depending upon the circumstances.
• B) up to 25 days.
• C) until the offeree accepts or rejects the offer.
• D) until the offeror accepts or rejects the offer.

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Definitions:

GDP

Gross Domestic Product, the total market value of all final goods and services produced within a country in a specific time period.

Natural Rate

The natural rate typically signifies the unemployment rate that maintains a steady inflation rate over time, also known as the natural rate of unemployment.

Short-run Ups

Temporary or brief increases in economic indicators or market performance.

Standard of Living

The level of wealth, comfort, material goods, and necessities available to a person, group, or nation.