Express Contracts Occur When

question 558

Multiple Choice

Express contracts occur when:

• A) the contract is created by more than two parties
• B) the contract is created quickly
• C) there is a written or oral expression of intent by the parties to enter into a legally binding agreement
• D) there is a written or oral expression of intent by the parties to enter into a nonbinding agreement
• E) none of the other choices are correct

---

Definitions:

Velocity V

Velocity V typically refers to the velocity of money, a measurement of the rate at which money is exchanged in an economy.

Percentage Fall

A measure that indicates the decrease in a value or quantity, expressed as a percentage of its previous value.

Full Employment

A situation in which all available labor resources are being used in the most economically efficient way.

Quantity Theory of Money

A theory stating that the general price level of goods and services is directly proportional to the amount of money in circulation.