Private International Business Contracts Include A(n) ________ So That the Parties

question 37

Multiple Choice

Private international business contracts include a(n) ________ so that the parties know which family of law is to be applied in case of a dispute and what nation's courts will be used.

• A)choice-of-forum clause
• B)supremacy clause
• C)ouster clause
• D)foreign commerce clause

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Definitions:

Liberal Economists

Liberal economists advocate for minimal government intervention in the economy, emphasizing free markets, free trade, and the importance of individual choice and freedoms in economic matters.

Conservative Economists

Economists who generally advocate for reduced government spending, lower taxes, and minimal government intervention in the economy.

Automatic Stabilizers

Economic policies and programs designed to offset fluctuations in a nation's economic activity without additional government action, such as progressive tax systems and welfare.

Inflation

An overall uptick in price levels and a decline in the value of money.