In the Context of Contracts Formed by Interactions of Parties,which

question 15

Multiple Choice

In the context of contracts formed by interactions of parties,which of the following arises from the conduct of the parties rather than from words?

• A) express contracts
• B) implied-in-fact contracts
• C) executed contracts
• D) void contracts
• E) adhesion contracts

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Definitions:

Keynesians

A group of economists who advocate for active government intervention in the economy, especially during recessions, to manage demand through fiscal and monetary policies.

Capitalism

An economic system characterized by private or corporate ownership of capital assets and goods, with the production and pricing of goods determined primarily by competition in a free market.

Government Intervention

This involves actions taken by a government to affect the economy beyond the basic regulation of fraud and enforcement of contracts, which can include tariffs, subsidies, and adjustments to interest rates.

Wages and Prices

The relationship between the payment workers receive for their labor and the cost of goods or services in the economy.