If a Contractor's Bid Was Significantly Low Because He or She

question 26

True/False

If a contractor's bid was significantly low because he or she made a mistake in adding up the total estimated costs, any contract resulting from the bid is still normally enforceable.

---

Definitions:

Income Groupings

Categorizations of individuals, households, or countries based on income levels, used for statistical and analytical purposes.

Consumption Expenditures

Spending by households on goods and services, with the exception of purchases of new housing.

Effective Marginal Tax Rate

The rate at which an additional dollar of income gets taxed, taking into account the impact of all applicable tax brackets.