The Productivity Curve Is a Relationship Between

question 92

Multiple Choice

The productivity curve is a relationship between

• A)real GDP per unit of capital and capital per hour of labor, with technology held constant.
• B)real GDP per hour of labor and capital per hour of labor whenever technological growth occurs.
• C)nominal GDP per hour of labor and capital per hour of labor, with technology held constant.
• D)capital per hour of labor and technological growth.
• E)real GDP per hour of labor and capital per hour of labor, with technology held constant.

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Definitions:

Substantially Performs

Refers to a party's fulfillment of their core contractual obligations, even if minor specifics are not completed to the letter.

Specific Performance

A legal remedy requiring a party to fulfill their obligations under a contract, rather than paying damages for breach.

Sale of Land

The process of transferring ownership of a parcel of land from one party to another through a legal sale agreement.

Impossibility

A doctrine under which a party to a contract is relieved of his or her duty to perform when that performance has become impossible because of the occurrence of an event unforeseen at the time of contracting.