Which of the Following Is a Feature of Traditional Arbitration

question 45

Multiple Choice

Which of the following is a feature of traditional arbitration?

• A) Disputants submit final proposals to the arbitrator after the conclusion of the arbitration process.
• B) The final settlement is often a midpoint between the settlement terms submitted by either party.
• C) The arbitrator has to choose one of the two final settlements submitted by the disputants to impose.
• D) The arbitrator may choose between the settlements proposed by two parties, but cannot change them.

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Definitions:

Price Level

Price level is the average of current prices across the entire spectrum of goods and services produced in the economy, indicating inflation or deflation.

Quantity Theory

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

Equation of Exchange

An economic equation that relates the quantity of money, its velocity, and the price level of goods and services to the nominal value of transactions.

Inflation Rate

The uptick in percentage of goods and services' prices in an economy throughout a certain duration.