Without Technological Progress a Country Can Never Enjoy Sustained Increases

question 28

Multiple Choice

Without technological progress a country can never enjoy sustained increases in living standards because:

• A) of diminishing marginal productivity.
• B) of decreasing returns to scale.
• C) an economy can never exceed its optimal rate of saving in the long run.
• D) of increasing marginal productivity.

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Definitions:

Unconscionable Terms

Provisions in a contract that are so unjust or overwhelmingly one-sided in favor of the party who has the superior bargaining power that they are deemed voidable.

Section 208 of UCC

This specific section does not exist as the Uniform Commercial Code (UCC) articles and sections do not include a "Section 208". It's important to reference the correct article and section when discussing UCC provisions.

Restatement (Second) of Contracts

A legal treatise offering a comprehensive summary of contract law in the United States, aimed at clarifying, restating, and simplifying the law.

Classical Law

A framework or school of thought in legal theory that emphasizes abstract logical reasoning and the universality of legal principles, often associated with ancient Roman and Greek law systems.