Laissez-Faire Thought Today Is Often Compared as Similar to

question 51

Multiple Choice

Laissez-faire thought today is often compared as similar to

• A)John Maynard Keynes and his demand-side economics.
• B)Karl Marx's communism.
• C)the inefficient market hypothesis.
• D)monetary policy.
• E)Friedrich Hayek and the "Austrian School" of economics.

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Definitions:

Frustration

Interference with a contract by some outside, unforeseen event that makes performance impossible or essentially different in nature.

Equitable Remedy

A judicial order enforcing a party to act or refrain from acting in a certain way, used when monetary compensation does not suffice to resolve a legal dispute.

Frustration Clause

A frustration clause in a contract is a provision that releases both parties from their obligations if an unforeseeable event occurs, making it impossible to fulfill the contract.

Tomato Crop

Refers to the cultivation and production of tomatoes as an agricultural activity.