One of the Major Differences Between High Income Countries Like

question 269

Multiple Choice

One of the major differences between high income countries like New Zealand and extremely low income countries like Haiti is:

• A) New Zealand has a well-functioning legal system and lack of corruption while Haiti has no meaningful law to protect life and property and high corruption
• B) Haiti has a well-functioning legal system and lack of corruption while New Zealand has no meaningful law to protect life and property and high corruption
• C) New Zealand has an elected parliament and Haiti does not
• D) Haiti has a growing population and New Zealand has a declining population
• E) none of the other choices

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Definitions:

Legally Bound

Obligated by law to act in accordance with an agreement.

Restraints Of Trade

Legal limitations placed on business practices and agreements that might unfairly limit competition or control prices.

Free Competition

An economic situation in which businesses operate without undue restrictions, allowing for the natural forces of supply and demand to determine prices and output.

Age Of Majority

The age at which an individual is considered legally capable of conducting himself or herself responsibly and is entitled to vote. In contract law, the age at which one is no longer an infant and can no longer disaffirm a contract.