James and Will Enter into an Oral Contract on May

question 23

Multiple Choice

James and Will enter into an oral contract on May 1 under which James agrees to deliver a collection of exotic wines by April 30 of the following year.This contract is enforceable by

• A)James only.
• B)Will only.
• C)either party.
• D)neither party.

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Definitions:

Keynesian Theory

An economic theory which asserts that government intervention through fiscal policy can influence macroeconomic productivity levels.

Keynesian Economics

An economic theory proposed by John Maynard Keynes, suggesting that government intervention can stabilize economies by managing demand.

Supply-Side

An economic theory that emphasizes the role of production, investment, and innovation in driving economic growth, often advocating for reducing barriers for entrepreneurs and businesses.

Monetarist

An economist who holds the belief that variations in the money supply have major influences on national output in the short run and the price level over longer periods.