Answer:
Option B
Explanation:
Fixing the wage rate above the market equilibrium rate will disturb the demand and supply equilibrium of labor resource.
Wage rate above market will make labor as a resource costly for business and hence, there is possibility that the demand for labor will lower down. Thus, the supply of labor will get low.
Hence, option B is correct
<span>When the fed buys government bonds, the reserves of the banking system :C. </span><span>increase so the money supply increases
</span><span>
when the feds buys government bonds, the money will be transferred to citizens who sell the bond. This citizens will put some of the money in the banks which will increase the reserve in banking system and will spend some of it to buy products which will increase the money supply </span>
Complete Question:
Article 2 of the Uniform Commercial Code simplified and streamlined commercial transactions involving the sale of goods. Which element of traditional contract law formation was modified or relaxed by the UCC?
a. Requirement of consideration for contract modifications.
b. Offers must have reasonably certain and definite terms to be valid.
c. The terms of the acceptance must exactly match those of the offer (“mirror image rule”).
d. All of the above.
Answer:
The element of traditional contract law formation that was modified or relaxed by the Uniform Commercial Code (UCC) is:
c. The terms of the acceptance must exactly match those of the offer (“mirror image rule”).
Explanation:
The "mirror image rule" specifies that when a contract offer is accepted, the terms must be the same as those in the initial offer. However, Article 2 of the UCC modified this "mirror image rule" by specifying that the offeree's acceptance is based on the offeror's terms unless otherwise specified by the offeree. Any additional terms are regarded as some proposed additions and do not become part of the contract unless both parties are merchants.
