A solid and defensible jury award that punishes negligent behavior can be good for the economy primarily because it
A. compensates the injured party for all damages.
B. takes from the rich and gives to the poor.
C. reassures the public that the legal system is 'fair'.
D. discourages imprudent or reckless behavior.
Answer: D
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Which of the following best represents search costs?
A) Dinesh has to spend time and effort to make sure that the chemical factory is living up to the agreed upon bargain that it will reduce the pollution it is releasing into the local river by 50 percent. B) Laila needs to come up with enough cash to pay the owners of the paper manufacturing plant, its attorneys, accountants, and negotiators so that a bargain can be reached with the paper manufacturer to reduce air pollution. C) Esperanza has to spend time and effort locating and organizing all the other people who have been adversely affected by the strong odors emanating from the local slaughterhouse in order to initiate the bargaining process. D) Rafael has to spend time determining whether the fertilizer manufacturer, the lead smelter, or the oil refinery is the cause of pollution seeping into the groundwater in his local community.
Compared to the demand for coffee, the market demand for French Roast coffee is likely to be
A. more elastic. B. more inelastic. C. perfectly elastic. D. perfectly inelastic.
Refer to the table above. You are told that Country B has no minimum wage or child labor laws. Now the correct answer is
A) country B will export good S. B) country A will export good S. C) both countries will export good S. D) trade will not occur between these two countries. E) both countries will import good S.
An exchange rate system under which currencies are allowed to fluctuate with frequent interventions by central banks is called a
A) freely floating system. B) fixed system. C) managed floating system. D) None of the above.