Which of the Following Policies Would Increase the Growth Rate

question 41

Multiple Choice

Which of the following policies would increase the growth rate of an economy in the endogenous growth model with human capital?

• A) mandatory schooling.
• B) minimum wages.
• C) redistributive taxation.
• D) lump-sum taxation.

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Definitions:

Quantum Meruit

Quantum Meruit is a legal principle that allows a party to recover the reasonable value of services provided, even if there was no formal contract, under circumstances where payment is expected.

Substantial Performance

Substantial performance is a legal principle indicating that if a party has performed enough of its contractual obligations, they are entitled to payment, though possibly reduced for any unfinished or defective work.

Specific Performance

A legal remedy in contracts where the court orders one party to fulfill their specific duties under the contract, rather than seeking damages for breach.

Breach Of Condition

Violation of a fundamental term or condition in a contract that results in the agreement being compromised or voided.