Under which one of the following conditions would a lawyer accept a case on a contingent basis?
A) The lawyer is risk averse.
B) The client is risk loving.
C) The lawyer has several cases on a contingent basis with payoffs that are not perfectly positively correlated.
D) The lawyer is more risk averse than the client is.
C
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Which of the following resulted from the Smoot-Hawley trade bill of 1930?
What will be an ideal response?
Government purchases that are counted as part of GDP can be less than the government's total budget because:
A. only the budget surplus or deficit is counted as part of GDP. B. government purchases are not counted as part of GDP. C. taxes are not counted as part of GDP. D. transfer payments are not counted as part of GDP.
Using Figure 1 above, if the aggregate demand curve shifts from AD3 to AD2 the result in the short run would be:
A. P3 and Y1. B. P2 and Y1. C. P2 and Y3. D. P1 and Y2.
The nominal deficit depends primarily on:
A. the debt. B. the rate of inflation. C. government's expenditures and receipts. D. the difference between potential and actual output.