What Will the Federal Government Have to Do in Order

question 188

Multiple Choice

What will the federal government have to do in order to redeem the bonds in the Social Security Trust Fund?

• A) raise taxes
• B) cut expenditures on other government programs
• C) borrow additional funds
• D) Some combination of a, b, and c.

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Definitions:

Sale of Goods

A commercial transaction where the ownership of physical products is transferred from the seller to the buyer for a price.

Statute of Frauds

A legal principle requiring certain types of contracts to be in written form in order to be enforceable.

Specific Performance

A legal remedy in contract law where a court orders a party to perform their obligations under a contract, rather than just paying damages for failure to do so.

Oral Agreement

A contract or agreement made through spoken words rather than in written form which can be legally binding in certain circumstances.