Suppose a plaintiff hires a lawyer to represent her in a court case. The lawyer will receive a share of the settlement if the plaintiff wins. Under this contract,
A) production efficiency cannot be achieved.
B) the client bears all of the risk.
C) the lawyer bears all of the risk.
D) the risk is shared.
D
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The full minutes of FOMC meetings are
A) released to the public immediately after the meeting. B) released to the public only after the next meeting. C) never released to the public. D) always geared towards controlling inflation.
The theory of bounded rationality states that it is likely for consumers to have perfect information
a. True b. False Indicate whether the statement is true or false
YearSalaryCPI1969$20,52036.71979$43,26572.61989$85,529124.01999$135,250166.62009$170,844214.5If the 1989 salary in 2009 dollars is $147,951, how do we interpret this?
A. Someone earning $85,529 in 1989 would be as well off if he were earning $147,951 in 2009. B. The salary earned in 1989 could have purchased the same amount of goods as $147,951 could buy in 2009. C. It would take $147,951 in 2009 to buy the same amount of goods that was purchased in 1989 with $85,529. D. All of these interpretations are correct.
Which of the following statements is true?
A. If the United States imposes a tariff on Swiss chocolate imports, the price of chocolate in the Switzerland is likely to increase. B. If Switzerland imposes a "voluntary export restraint" on chocolate exports to the United States, the price of chocolate in the United States is likely to decrease. C. If the United States imposes a quota on Swiss chocolate imports, the price of chocolate in the United States is likely to increase. D. all of the above