Figure 16.6: Personal Savings Rate

question 103

True/False

Figure 16.6: Personal Savings Rate
-According to one study, consumption expenditure falls about 17 percent when an individual retires, but remains, more or less, unchanged when all that is considered is food purchases.

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Contracts of Adhesion

Contracts of adhesion refer to standard-form agreements prepared by one party, leaving the other party little or no ability to negotiate more favorable terms.

Public Policy

Principles and standards considered by the government to be beneficial for the community and used to guide legislative or regulatory actions.

Trade Secrets

Information, including formulas, practices, processes, designs, instruments, patterns, or compilations of information that is not generally known or reasonably ascertainable, by which a business can obtain an economic advantage over competitors or customers.

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A contract or agreement that is void because it involves actions that are against the law.