Which of the Following Statements About the American Recovery and Reinvestment

question 81

Multiple Choice

Which of the following statements about the American Recovery and Reinvestment Act of 2009 is true?

• A) It was a bipartisan bill.
• B) Most Republicans supported the bill.
• C) Most Democrats opposed the bill.
• D) According to the CBO, the act resulted in the creation of 2 million full-time jobs.
• E) The act caused the budget deficit to decline.

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Definitions:

Novation

The act of replacing one party in a contract with another party, or altering the terms of a contract, with all parties' consent, resulting in a new agreement.

Material Breach

A significant violation of a contract that permits the other party to either compel performance, seek remedies for damages, or terminate the agreement.

Nonbreaching Party

The party in a contract who has not violated the agreement and may be entitled to legal remedies.

Obligations

Duties or actions that an individual or entity is legally required to perform according to the terms of a contract or law.