Define subject matter jurisdiction. In terms of subject matter jurisdiction, describe the types of cases that are subject to:
a) exclusive federal jurisdiction; b) concurrent (in other words, both federal and state) jurisdiction; and c) state court jurisdiction.
Subject matter jurisdiction is the power of a court to render a decision in a particular type of case. In terms of subject matter jurisdiction, federal courts have exclusive jurisdiction over the following cases: 1 ) admiralty; 2 ) bankruptcy; 3 ) copyrights, trademarks, and patents; 4 ) claims against the U.S. government; 5 ) claims arising under statutes providing for exclusive federal jurisdiction; and 6 ) federal criminal prosecutions. Cases involving concurrent jurisdiction include those involving a federal question and those involving diversity of citizenship. When the basis for federal jurisdiction is diversity of citizenship, an amount in excess of $75,000 must be in controversy. The state court system has subject matter jurisdiction over all cases not within the exclusive jurisdiction of the federal court system.
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If a firm’s products are no longer properly aligned with changing market trends, the firm can ______.
a. sell its products to customers in another market who do value its products b. make new investments to upgrade its manufacturing facilities c. acquire new suppliers d. reorganize its product distribution processes
Goal programming models have several components.Which of the following is not one of these components?
a. A minimization objective function b. A maximization objective function c. A set of goal programming constraints d. An optional set of system constraints e. Non-negativity constraints
Financial accounting standards are known collectively as GAAP. What does that acronym stand for?
A. Generally Authorized Auditing Principles B. Generally Applied Accounting Procedures C. Generally Accepted Accounting Principles D. Governmentally Approved Accounting Practices
To approximate a discrete distribution that has many different outcomes useful in most applied business and economic problems, we are, in fact, using the:
A) Poisson distribution. B) normal distribution. C) Hypergeometric distribution. D) marginal distribution.