A(n)________ Contract Is a Contract Created by a Party to an Agreement

question 69

Multiple Choice

A(n) ________ contract is a contract created by a party to an agreement that is presented to the other party on a take-it-or-leave-it basis.

• A)substantively unconscionable
• B)adhesion
• C)outrageous
• D)procedurally unreasonable
• E)unreasonable

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Definitions:

Expected Inflation

The projection of the rate at which prices of goods and services will rise over a specific period in the future.

Expected Inflation

The rate at which the general level of prices for goods and services is expected to rise.

Short-run Phillips Curve

A graphical representation that shows the inverse relationship between the rate of unemployment and the rate of inflation in an economy over the short term.

Long-run Phillips Curve

A concept in economics indicating that in the long term, there is no trade-off between inflation and unemployment, represented as a vertical line at the natural rate of unemployment.