Suppose you are an attorney, and you are defending a client in a wrongful death suit
The deceased was a pilot for an aerial acrobatics team, and the opposing attorney has prepared an an estimate of the value of lost income that includes the mortality rate for all pilots. You should argue that the attorney's estimate of lost earnings is too ________ because the mortality rate for aerial acrobats is ________ than for other types of pilots. A) low, lower
B) low, higher
C) high, lower
D) high, higher
D
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In an expansion, federal tax receipts increase proportionally more than real GDP without the need for any government policy. This increase is an example of
A) discretionary monetary policy. B) automatic monetary policy. C) automatic fiscal policy. D) discretionary fiscal policy. E) the effect of deficit spending.
Oligopolies are difficult to analyze because
A) oligopolies are a recent development so economists have not had time to develop models. B) demand and cost curves do not exist for these types of industries. C) the firms are so large. D) how firms respond to a price change by a rival is uncertain.
When the Fed lowers the interest rate:
A. investment increases, and net exports decreases. B. both investment and net exports increase. C. both investment and net exports decrease. D. investment decreases, and net exports increase.
The "universal service" argument often requires that some products be sold at a loss while other products be sold at profits higher than normal
a. True b. False Indicate whether the statement is true or false