Which of the Following Contributed to the State of the Economy

question 35

Multiple Choice

Which of the following contributed to the state of the economy in the United States after World War II?

• A)Decreased U.S.federal government spending
• B)Decreased industrial productivity in the United States
• C)Increased income taxes on the wealthy in the United States
• D)European dominance in international trade
• E)Massive construction of U.S.highways and airports

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Definitions:

Promissory Estoppel

A judicial doctrine that forbids a party from revoking an assurance given to another party if the recipient has legitimately acted on that promise to their detriment.

Quasi Contract

A legal concept where a court imposes a contractual obligation on a party who has not expressly consented to it, to prevent unjust enrichment.

Illusory Promise

An agreement that lacks a firm commitment or terms, making it unenforceable by law.

Accord and Satisfaction

A legal settlement where a debtor offers payment or performance different from what was originally agreed, and the creditor accepts it as full settlement of the debt.