Problem Questions for Review 23.1
Explain why an economys income must equal its expenditure.
Step 1 of 3
September 26 CHAPTER 9 OFFER AND ACCEPTANCE 1. REQUIREMENTS OF THE OFFER A. Offer- a promise to preform or refrain preforming some specified act in the future B. Serious Intention i. Requires serious intention on the part of the offeror must exist ii. Intention must be objectively clear to third parties iii. Advertisements are not contracts iv. Auctions with reserve is an invitation to negotiate C. Definiteness i. Offer must have a reasonable and definite terms so that the court can determine if a breach has occurred and give an appropriate D. Communication i. Results in the offeree’s knowledge on the offer ii. Communication to offeree gives her power to transform the offer into a binding leg
Textbook: Principles of Economics
Author: N. Gregory Mankiw
Principles of Economics was written by and is associated to the ISBN: 9780538453059. This full solution covers the following key subjects: . This expansive textbook survival guide covers 36 chapters, and 670 solutions. This textbook survival guide was created for the textbook: Principles of Economics, edition: 6. Since the solution to Questions for Review 23.1 from 23 chapter was answered, more than 400 students have viewed the full step-by-step answer. The full step-by-step solution to problem: Questions for Review 23.1 from chapter: 23 was answered by , our top Business solution expert on 03/16/18, 04:26PM. The answer to “Explain why an economys income must equal its expenditure.” is broken down into a number of easy to follow steps, and 9 words.