Between 1998 and 2001 the Federal Budget

question 154

Multiple Choice

Between 1998 and 2001 the federal budget

• A)was in balance.
• B)was running steadily declining deficits.
• C)was running surpluses.
• D)ran deficits the first two year that turned into surpluses the last two years.

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Definitions:

Postbox Rule

A legal principle that states an offer is considered accepted once the acceptance is sent by the offeree, even if it has not yet been received by the offeror.

Letter Of Revocation

A written document formally cancelling or withdrawing an offer or contract before it has been accepted or become binding.

Letter Of Acceptance

A document confirming the acceptance of an offer, thereby creating a binding contract.

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