Under a standard of contributory negligence, a plaintiff cannot collect for damages if his cost of preventing the accident is less than
a. the defendant's cost of preventing the accident.
b. the damages incurred from the accident.
c. the damages incurred times the probability of the accident's occurrence.
d. the punitive damages imposed by the court.
c. the damages incurred times the probability of the accident's occurrence.
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Both the Federal Reserve System in the United States and the European Central Bank are comprised of geographically dispersed Banks. How might such decentralization contribute to successful monetary policy?
What will be an ideal response?
Do policy makers know the exact value of the fiscal multiplier?
a. No, economists have almost no idea of the value of fiscal multipliers. b. No, they are not known with complete accuracy. c. Yes, economists know the precise value of the multiplier. d. Yes, although there is a very small range of uncertainty in the value.
In a linear regression equation of the form Y = a + bX, the intercept parameter a shows
A. the amount that X changes when Y changes by one unit. B. the value of X when Y is zero. C. the amount that Y changes when X changes by one unit. D. the value of Y when X is zero.
Economies of scale can
A) result in an increasing cost industry. B) cause firm exits out of the industry. C) prevent the entry of new firms into a market. D) reduce the rate of return which the firm may earn.