Based on the Experience of the Great Depression and the New

question 353

Multiple Choice

Based on the experience of the Great Depression and the New Deal, which one of the following strategies would be most likely to stimulate recovery from a serious economic recession?

• A) increase trade restrictions and tariffs to save jobs and enhance tax revenue
• B) a reduction in the money supply in order to strengthen the dollar and combat inflation
• C) keep taxes low in order to stimulate production and minimize the decline in personal and business income
• D) institute frequent policy changes in order to search for and find the policy combination that would be most effective

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Definitions:

Delegatee

A third party who is not part of the original contract but to whom duties to perform are transferred by one of the contracting parties (a delegator).

First-Assignment-In-Time Rule

A rule which states that the first party granted an assignment is the party correctly entitled to the contractual right.

English Rule

A rule which states that the first assignee to give notice of assignment to the obligor is the party with rights to the contract.

American Rule

The American Rule is a legal principle stating that each party in a lawsuit is responsible for paying their own attorney's fees, unless specific authority granted by statute or contract allows the prevailing party to recover those fees from the loser.