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When threats are used by someone who does not have a special legal relationship of trust or a confidentla relationship to another person to force someone to enter into a contract, the agreement or contract is considered entered into because of undue influence. F 15. A contract of adhesion is characterized by its shocking unfairness or is shockingly unjust (unfair). T 16. When it comes to the consideration of a contract, the courts (as has been the traditional approach) do not look into the adequacy or sufficiency of the consideration supporting the transaction if there are not circumstances of fraud, duress, undue influence, mistake, etc. T F 17. An example of a contract that lacks consideration but is still enforced by the courts because this is considered socially beneficial are pledges or subscriptions (which are promises to donate money). F 18. A gratuitous promise is a gift and is enforceable in a court of law because they are considered to have moral consideration even though someone makes a promise without requiring some benefit in return. F 19. A contract with a minor can be ratified by either the adult or the minor after the minor has reached the age of majority. T F 20. Upon reaching the age of majority, it is a contract law that a minor must ratify an earlier contract entered into while a minor - in writing and no later than 6 months after reaching the age of majority. F 21. Normal mentality for purposes of determining competency or the capacity to contract under contract law means that both and all parties to a contract must have a sufficient understanding that they are getting themselves into the seriousness of a contract. T F 22. The law allows minors to cancel contracts they get into with the exception of contracts for necessaries, i.e. food, clothing, medical care, lodging provided to the minor by an adult. T F 23. A valid contract can be entirely handwritten. F 24. An agreement that can be completed within six (6) months must be in writing in order to be enforced pursuant to the Statute of Frauds. T Fvestion 54 What is a balanced budget? Lot yet inawered Marked out of 1.00 F Flag Select one: question O a. It is the equality of tax revenues and government spending on goods and services. O b. It is the absence of government debt. O c. It is a budget where the government spends over many categories in a balanced fashion. O d. It is the equality of net tax revenues and government spending on goods and servicesAmy has collected Shaker-style furniture for a number of years. After she lost her job, she decided to start trading in Shaker furniture. Initially, she did all her trading on-line, but after a year decided to rent a store and start dealing directly with the public. Demand has exceeded all her expectations, and she is looking to expand her business. While she has a wealth of knowledge about Shaker furniture and is obviously very capable as a salesperson, she has no spare money to put into the business. + Amy thinks she is currently operating as a sole trader, and has heard about companies and partnerships, but does not know much about them. + a) Amy asks you to explain to her the key differences between a sole trader, a partnership and a company.+ b) Which structure would you recommend for her growing business?+ Would your recommendation change, if+ c) Amy had a son in the final year of his marketing degree and who was keen to be involved in the business once he graduated?+ + d) Amy will need to borrow $100,000 to expand the business in the near future?+Question 13 4 pts Which of the following would be an appropriate fiscal policy to deal with a high rate of inflation? Increase taxes Decrease taxes Decrease money supply O Increase government spending Question 14 14 ptsPlatform 5.0 Than Test: Macro Chapter 11 dumbions - QUESTION 1 1, A Cut in Government Spending, A Promise In inc., | Cups Blackboard Help 1 points Keynesian economists "Tax outs. by providing incentives to work, save, and invest, will rise employment and loveor the price lovel. " This argument is made by the supply-side economists. daniel economists QUESTION 2 1 points Same Ar A government spending and taxation policy to achieve macroeconomic goals is known and: countercyclical policy fiscal policy. 1 monetary policy O a balanood budgot presidential diservion. QUESTION 3 1 points Bove Am According to supply side fiscal policy, reducing tax rates on wages and profits will () create damand-pul inflation. 1 lower the price level but may trigger a recession. moult in slaglation Th reduce both unemployment and inflation. QUESTION 4 1 points Save Arow To combat a reaction, Keynesian fiscal policy recommends: )an increase h government spending an increase in takes and a decrease in government purchases to balance the budget. a reduction in both taxis and government spending. i points Saer Are QUESTION S The wim of the marginal propentity to consume (MPC) and the marginal propensity to save (MPS) chars equals: Crick Have and Submit marred and submit. Click Save All Anagers to saw all answers. Save and Subm MacBook Air