The Only Significant Group of Middle- and Lower-Income Economies to Close

question 102

Multiple Choice

The only significant group of middle- and lower-income economies to close the gap with the high-income economies over the past few decades has been the nations of ___________.

• A) East Asia
• B) Latin America
• C) West Africa
• D) Europe

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Definitions:

Preferred Shares

Preferred shares represent ownership in a company with preferential rights to dividends and assets upon liquidation, compared to common shares.

Doctrine of Ultra Vires

A principle stating that actions taken by a corporation that are beyond its legal power or authority are invalid.

Duty of Loyalty

An obligation to act in the best interest of another party, typically in fiduciary relationships.

Corporate Opportunity

A legal doctrine that prohibits directors, officers, and controlling shareholders of a corporation from taking a business opportunity for themselves that rightfully belongs to the corporation.