Maggie and Nate Enter into a Contract for the Sale

question 12

Multiple Choice

Maggie and Nate enter into a contract for the sale of a car,but Nate later refuses to deliver the car.Maggie asks a court to order Nate to perform as promised.Ordering a party to perform what was promised is

• A)specific performance.
• B)damages.
• C)rescission.
• D)beyond the court's authority.

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Definitions:

Rational Expectations Theory

A concept suggesting that individuals make decisions based on their rational outlook, available information, and past experiences.

Certainty Equivalent Theory

A concept in decision theory that quantifies the value of a risky asset in terms of a certain amount of money.

Supply-Side Policy

Economic strategies aimed at increasing the production capacity of an economy by improving the conditions for businesses and producers.

Government Spending

The total amount of public expenditures by the government, including salaries, infrastructure projects, and public services.