Stu Makes an Offer to Tina to Enter into a Contract.Tina

question 33

Multiple Choice

Stu makes an offer to Tina to enter into a contract.Tina accepts the offer.A valid contract requires

• A)an offer only.
• B)an acceptance only.
• C)an offer and an acceptance.
• D)neither an offer nor an acceptance.

---

Definitions:

Money Supply

The entire amount of financial assets existing in an economy at a certain time.

Inflation

A widespread inflation of prices leading to a diminished ability to purchase with money.

Short-run Phillips Curve

A graphical representation showing an inverse relationship between the rate of inflation and the rate of unemployment in an economy over the short term.

Inflation

The rate at which the wholesale price levels for goods and services ascend, diminishing economic purchasing strength.