If the Meaning of a Statute's Language Is Unclear and an Agency

question 23

True/False

If the meaning of a statute's language is unclear and an agency interprets it,a court must follow the interpretation as long as it is reasonable.

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Definitions:

Option

A financial derivative that gives the holder the right, but not the obligation, to buy or sell an asset at a specified price within a given timeframe.

Rate of Inflation

The percentage increase in the general price level of goods and services in an economy over a period of time.

Rate of Interest

The percentage at which interest is paid by a borrower for the use of money that they borrow from a lender.

Average Total Cost

The total cost of production (fixed and variable costs combined) divided by the number of units produced, representing the per-unit cost of production.