An Implied Contract Is One in Which the Agreement Is

question 47

True/False

An implied contract is one in which the agreement is shown not by words, written or spoken, but by the acts and conduct of the parties.

Understand the adjustments in the economy following shifts in expectations about future prices and their impact on wage bargaining.

Assess the interaction between monetary policy, aggregate demand, and long-run economic equilibrium.

Understanding of short-run and long-run equilibrium in the economy.

Knowledge of factors that cause shifts in aggregate supply and demand.

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