Generally, Acceptance Must Be Communicated to the Offeror to Be

question 176

True/False

Generally, acceptance must be communicated to the offeror to be effective unless there has been a history of similar relations between the parties.

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Definitions:

General Theory

In the context of economics, it often refers to Keynes's "The General Theory of Employment, Interest, and Money," which argues that aggregate demand is the primary driving force in an economy.

Increase Spending

A policy or action that leads to a higher level of expenditure by individuals, businesses, or the government to stimulate economic activity.

Depression

A prolonged period of significant economic downturn, marked by high unemployment, low output, and declining prices.

Aggregate Demand

The cumulative demand for goods and services within an economy, reflecting the total spendable money available at various price points.