Match the Term with the Definition

question 50

Multiple Choice

Match the term with the definition.
-Economic theory that claims tax cuts for individuals (especially the wealthy) and businesses encourage investment and production (supply) and stimulates consumption (demand) because individuals can keep more of their earnings.Despite promises to the contrary,under President Reagan this theory created a massive federal budget deficit.

• A)Camp David accords
• B)Economic Recovery Tax Act
• C)Equal Rights Amendment (ERA)
• D)intermediate-range nuclear forces (INF)agreement
• E)Iran-Contra scandal
• F)Iran hostage crisis
• G)National Energy Act of 1978
• H)New (Christian)Right
• I)Panama Canal treaty
• J)Strategic Defense Initiative (SDI)
• K)supply-side economics
• L)Watergate

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Definitions:

Conduct Of The Parties

Behaviors, actions, and interactions of the individuals or entities involved in a legal agreement or dispute.

Unilateral Contract

An agreement wherein one party makes a promise to perform in exchange for the act of the other party, who is not legally obligated to act but if they do, the first party is obligated to fulfill the promise.

Bilateral Contract

An agreement involving two parties where each side promises to fulfill certain obligations in exchange for benefits provided by the other.

Consideration

In contract law, consideration refers to something of value that is exchanged between parties as part of an agreement.