Examlex

Solved

Suppose That a Country That Has a High Level of Output

question 51

Multiple Choice

Suppose that a country that has a high level of output per person agrees to trade with a country that has a low level of output per person.Which country can benefit?


Definitions:

Condition Precedent

A condition that operates to give rise to a contracting party’s duty to perform.

Close of Escrow

The finalization of a real estate transaction, where all conditions have been met and the property's title is transferred from the seller to the buyer.

Condition Subsequent

A condition in a contract that, when it occurs, terminates an existing obligation, making the contract's terms no longer binding.

Al Gore

A former Vice President of the United States who has been notably active in raising awareness about global warming and environmental issues.

Related Questions