Suppose a plaintiff hires a lawyer to represent her in a court case. To which of the following contracts would a highly risk-averse plaintiff agree?
A) The lawyer is paid by the hour.
B) The lawyer receives a share of the settlement.
C) The lawyer receives a fixed fee.
D) The lawyer pays the client a fee for the right to the entire settlement.
D
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If a country's currency appreciates, the country will experience a ________ in exports and a ________ in imports
A) rise; rise B) fall; fall C) rise; fall D) fall; rise
What area on a supply and demand graph represents consumer surplus?
What will be an ideal response?
Which of the following best describes the vicious cycle of poverty? a. Rich countries eventually decline because its citizens become lazy
b. Poor countries eventually improve through investment in education, infrastructure, and capital accumulation. c. Rich countries stay rich through continued high levels of investment in education, infrastructure, and capital accumulation. d. Poor countries stay poor because they cannot afford to invest in education, infrastructure, and capital accumulation.
Which of the following conditions distinguishes monopolistic competition from perfect competition?
A. Number of sellers B. Freedom of entry and exit C. Perfect information D. Homogeneity of the product