Mediation Is

question 60

Multiple Choice

Mediation is:

• A)the same as arbitration.
• B)used frequently in international disputes.
• C)regulated by the American Arbitration Association.
• D)none of the above

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Definitions:

Economic Output

The total value of all goods and services produced by an economy over a specific time period.

National Sales Tax

A tax levied on retail sales of goods and services at the national level, typically a percentage of the sales price.

Low-Income

Describes individuals or families that earn significantly less than the median income of their locality, often leading to limited access to goods and services.

Positive Economics

The branch of economic study that focuses on objective analysis and descriptions of how economies work, without making value judgments.