Over Time, Technology Tends To

question 6

Multiple Choice

Over time, technology tends to:

• A)set countries apart in terms of productivity.
• B)help developing nations experience the "catch-up" effect.
• C)diminish in nations that are still developing.
• D)spread from country to country, equalizing opportunity costs.

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Definitions:

Time Limit

A specific duration within which an action must be initiated or completed.

Mailbox Rule

A legal principle that an offer is considered accepted once the acceptance is dispatched, not when it is received by the offeror.

Verbal Acceptance

An agreement to the terms of an offer conveyed through spoken words rather than written.

Promissory Estoppel

A legal principle that prevents a promisor from retracting a promise when the promisee has relied on it to their detriment.