If a Contract for the Sale of Goods Does Not

question 120

Multiple Choice

If a contract for the sale of goods does not specify where goods are to be delivered, the UCC presumes that in most cases:

• A) delivery is to the buyer's agent
• B) delivery to the buyer's place of business
• C) delivery is to the closest railroad or trucking station
• D) delivery is to a common carrier
• E) none of the other choices

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Definitions:

Equilibrium GDP

The level of Gross Domestic Product at which aggregate supply equals aggregate demand, indicating a stable economy.

Full Employment GDP

Full Employment GDP is the output level produced by an economy when all its labor and resources are employed at their maximum efficiency.

Multiplier

refers to a factor by which an initial change in spending will ultimately change the total economic output more than the initial amount.

Multiplier

In economics, a factor by which an initial change in spending will alter total economic output due to follow-on effects.