If We Consider the Interests of Both Consumers and Producers,then

question 74

Multiple Choice

If we consider the interests of both consumers and producers,then a policy of tariff reduction in the U.S.auto industry is:

• A) In the interest of the United States as a whole,but not in the interest of auto-producing states
• B) In the interest of the United States as a whole,and in the interest of auto-producing states
• C) Not in the interest of the United States as a whole,nor in the interest of auto-producing states
• D) Not in the interest of the United States as a whole,but is in the interest of auto-producing states

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Definitions:

Customized Goods

Products that are specifically made according to the specifications or requirements of a customer.

Partial-Performance Exception

A legal principle that allows for the enforcement of an oral contract when one party has taken significant action based on the agreement, despite the lack of a written contract.

Merger Clauses

Provisions in a contract stating that the written document represents the entire agreement between the parties, negating any oral agreements.

Parol Evidence

The rule that prohibits the use of oral statements or agreements to contradict or vary the terms of a written contract.