Use the Following to Answer Questions

question 364

Multiple Choice

Use the following to answer questions :
Figure: Circular-Flow Model
-(Figure: Circular-Flow Model) Look at the figure Circular-Flow Model. If the circular-flow model is in equilibrium (the sum of money flowing into each box is equal to the sum of the money flowing out of it) and there is a decrease in investment spending, which of the following is likely to happen?

• A)an increase in the nominal GDP
• B)an increase in the real GDP
• C)an increase in the unemployment rate
• D)an increase in the inflation rate

Interpret the legal consequences of failed consideration in contractual agreements.

Understand the concept and role of consideration in forming a valid contract.

Identify what constitutes legal consideration and differentiate it from inadequate or no consideration.

Analyze the legal requirements for consideration in various types of contracts, including unilateral and bilateral contracts.

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Definitions:

Design Elements

Refers to the visual components used in the creation of a piece of work, such as color, shape, layout, and typography.

Right Kinds

Refers to the specific categories or types that are considered appropriate or most suited for a certain context or purpose.

Evidence

Information or signs that support the truth or validity of a belief, argument, or claim.

Testimonial

A formal statement or written declaration testifying to someone's character, qualifications, or the quality of a product or service.