An Offeree's Power of Acceptance Is Terminated When the Offeror

question 17

True/False

An offeree's power of acceptance is terminated when the offeror dies unless the offer is irrevocable.

---

Definitions:

Economy's Expenditure

The total spending in an economy, including consumption, investment, government purchases, and net exports.

Total Income

The sum of all earnings received by an individual or entity, including wages, salaries, benefits, and other forms of compensation.

Total Expenditure

The total amount spent on goods and services over a specific period.

Circular-Flow Diagram

A visual model of the economy that shows how dollars flow through markets among households and firms.