Which of the Following Is Most Important If a Country

question 79

Multiple Choice

Which of the following is most important if a country is going to grow rapidly and achieve a high level of per capita income?

• A)an abundance of natural resources
• B)a warm moist climate
• C)a small population relative to the geographic size of the country
• D)institutions and policies that encourage people to engage in productive activities

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Definitions:

Unconscionability

A doctrine in contract law that describes terms that are so extremely unjust or overwhelmingly one-sided in favor of the party who has superior bargaining power.

Equitable Remedy

A remedy provided by courts in cases where monetary damages are insufficient to resolve a legal dispute, involving actions like specific performance or injunction.

Specific Performance

A legal remedy requiring a party to perform a specific action as outlined in a contract, rather than merely paying damages for failing to do so.

Illegal Contracts

An illegal contract is one that involves activities or terms that are against the law or public policy and is therefore unenforceable in a court of law.