Anna Has Just Finished High School and Started Looking for Her

question 130

Multiple Choice

Anna has just finished high school and started looking for her first job,but has not yet found one.As a result,the unemployment rate

• A)increases,and the labor-force participation rate is unaffected.
• B)increases,and the labor-force participation rate increases.
• C)is unaffected,and the labor-force participation rate increases.
• D)increases,and the labor-force participation rate decreases.

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Definitions:

Valid Consideration

Valid Consideration is a necessary component of a legally binding contract, involving something of value exchanged between the parties involved.

Adequate Consideration

Something of value that is deemed by law to be sufficient grounds for enforcing a party's obligation under a contract.

Legal Detriment

The loss or disadvantage that a party agrees to suffer within a contractual agreement which gives value to the contract.

Doctrine of Promissory Estoppel

A legal principle that prevents a party from withdrawing a promise made to another if the latter has relied on that promise to their detriment.