A lawyer who agrees to take as compensation a percentage of any judgment or settlement is
A. typically only employed as a defense attorney.
B. a contingency attorney.
C. violating the legal profession's code of ethics.
D. all of the options are correct.
Answer: B
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If a firm is maximizing profits, the extra revenue it receives from selling its last unit of output exceeds the extra cost of producing that unit
Indicate whether the statement is true or false
Why would a firm prefer that a company like J.D. Power (which provides product satisfaction reviews) review its product rather than doing it within the firm?
A) J.D. Power provides less credibility. B) J.D. Power provides greater credibility. C) J.D. Power is more honest than the average firm. D) J.D. Power has a government monopoly in providing product satisfaction reviews.
Which of the following most closely defines the concept of poverty?
a. Poverty means that a person is morally bankrupt and thus is unworthy of social assistance. b. Poverty is a relative term describing the financial insolvency of a person. c. Poverty is a relative term and is based on the level of unemployment in the economy. d. Poverty is a relative term and is based on income considerably below the average in society.
Suppose the Federal Reserve pursues contractionary monetary policy. In the long run
a. both inflation and the unemployment rate are higher than they were prior to the change in policy. b. inflation is higher and the unemployment rate is the same as it was prior to the change in policy. c. inflation is lower and the unemployment rate is lower than it was prior to the change in policy. d. inflation is lower and unemployment is the same as it was prior to the change in policy.