-Consider the Above Figure

question 267

Multiple Choice

-Consider the above figure. At a price level of 120

• A) total planned real expenditures exceed total planned production.
• B) total planned production exceeds total planned expenditures.
• C) prices would fall.
• D) inventories would begin to accumulate.

---

Definitions:

Delegation

A contracting party’s (a delegator’s) transfer of his or her duty to perform to a third party who is not part of the original contract (a delegatee).

Parol Evidence Rule

A common law rule that states that oral evidence of an agreement made prior to or contemporaneously with a written agreement is inadmissible when the parties intend the written agreement to be the complete and final version of their agreement.

Parol

Relating to or given by word of mouth; not in writing or formalized in documents.

Parol Evidence Rule

A rule in contract law that prevents parties from presenting evidence of prior or contemporaneous agreements that would contradict the written terms of the contract.