Regarding Economic Growth and Income Levels, Which of the Following

question 50

Multiple Choice

Regarding economic growth and income levels, which of the following is true?

• A) Poor countries are unable to ignite the growth process unless they receive financial aid from richer countries.
• B) Countries that fail to adopt institutions and policies supportive of trade, entrepreneurial discovery, and private investment will remain poor in the foreseeable future.
• C) Countries that lack an abundance of natural resources have been unable to grow and achieve high income levels.
• D) Countries with a large population relative to their land area are destined to remain poor.

Recognize the enforceability of exculpatory clauses and noncompete agreements and their limitations.

Identify the conditions under which contracts can be disaffirmed by minors.

Comprehend the effects of contracts involving illegal activities or purposes.

Distinguish between different types of contracts and their voidability by minors.

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Definitions:

Contributory Negligence

A legal principle where the plaintiff is partially responsible for the harm caused and the compensation may be reduced accordingly.

Dry-Cleaning Chemicals

Dry-cleaning chemicals are solvents used in the dry-cleaning process to remove stains from fabrics without the use of water, commonly including perchloroethylene.

Vicarious Liability

The responsibility of one person or entity for the actions of another person, typically in an employer-employee relationship.

False Imprisonment

The unlawful restraint of a person's freedom of movement without legal justification.