Use the Following to Answer Questions

question 124

Multiple Choice

Use the following to answer questions
Figure: Determining Fiscal Policy
-(Figure: Determining Fiscal Policy) Expansionary fiscal policies could:

• A) move the economy to full employment.
• B) move the economy away from full employment.
• C) lead to a lower price level.
• D) lead to a lower price level and lower unemployment.

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Definitions:

Formalities

Formalities are the specific procedures, conditions, and modes of operation that are required by law or policy for legal actions, documents, or agreements to be valid.

Valid

Legally acceptable and recognized, having force or binding effect; applicable to contracts, agreements, or official documents.

Probate

The legal process through which a deceased person's will is validated, and their estate is distributed to heirs and designated beneficiaries.

Enforceable Trust

A trust arrangement that meets all legal requirements and therefore can be executed as per its terms.