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Use the following to answer questions
Figure: Shifts in Aggregate Demand
-(Figure: Shifts in Aggregate Demand) Starting at the equilibrium point b,if imports increase or consumer demand decreases,the demand curve will shift to _____,thus _____ the price level and _____ real output.
Valid and Enforceable
Pertaining to a contract or agreement that is legally binding and can be upheld in a court of law.
Statute of Frauds
A legal requirement that certain types of contracts be memorialized in a signed writing with sufficient content to evidence the contract.
Contract of Guarantee
A contract where a third party agrees to be responsible for the debt or obligations of a borrower in case the borrower fails to fulfill their contractual obligations.
Unsigned Note
A note or document that lacks the signature of the party or parties involved, potentially affecting its legal enforceability.
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