To Accept an Offer for a Unilateral Contract, Where a Promise

question 30

True/False

To accept an offer for a unilateral contract, where a promise is exchanged for an act, the offeree need not necessarily perform the act requested by the offeror.

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Definitions:

Recovery Phase

A period in the economic cycle where economic activity starts to increase again after a recession, leading to growth in GDP and employment.

Prosperity

A state of economic well-being and flourishing, characterized by financial success and material wealth.

Consumer Price Index

An indicator that measures the average price weighted across a mix of consumer goods and services, including but not limited to transportation, food, and healthcare.

Deflation

A drop in the overall price of goods and services, frequently signifying a decrease in the economy's money or credit supply.