A lawsuit that joins together the similar concerns of many injured parties is
A. a class action lawsuit.
B. unlikely to adequately compensate the plaintiff's attorneys when successful.
C. a violation of the legal profession's code of ethics.
D. a violation of the laws of most U.S. states.
Answer: A
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High opportunity costs go hand in hand with high money costs in a properly functioning economy.
Answer the following statement true (T) or false (F)
A group of firms acting together to limit output, raise price, and increase economic profit is a called a
A) duopoly. B) monopolistic oligopoly. C) competitive oligopoly. D) cartel. E) multi-firm competitive monopoly.
To try to help farmers, governments I. set production quotas. II. set price ceilings
A) I and II B) only II C) only I D) neither I nor II
One common example of a price ceiling is rent control
a. True b. False Indicate whether the statement is true or false