Figure 73 Alt Text for Figure 7

question 98

Multiple Choice

Figure 7.3 Alt text for Figure 7.3: In figure 7.3, a graph, comparing capital per hour worked and real GDP per hour worked.
Long description for Figure 7.3: The x-axis is labelled, capital per hour worked, K/L.The y-axis is labelled, real GDP per hour worked, Y/L.2 concave curves originating from 0 at the vertex are shown.5 points A ($50000, $15000) , B ($60000, $16000) , C ($70000, $16400) , D ($80000, $16500) , and E ($60000, $17000) are plotted.The curve labelled Production function 1, passes through points A, B, C, and D.The curve labelled Production function 2, passes through point E.These 5 points are connected to their respective coordinates on the x and y-axis with dotted lines.
-Refer to Figure 7.3. A large group of new workers entering the labour force is shown in the figure above by a movement from

• A)C to B.
• B)A to B.
• C)B to E.
• D)E to B.
• E)C to D.

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Definitions:

Disaffirm

The legal right of a party to reject or annul a contract or agreement, often associated with contracts entered into by minors.

Power of Avoidance

The legal ability to nullify or cancel a contractual agreement or transaction under certain conditions.

Disaffirmance

The legal right of a party to renounce or revoke a contract or agreement, particularly relevant in cases involving minors or instances of fraud.

Ratify

To formally approve or confirm an agreement or act, making it officially valid.