Credible commitment problems are characterized by a temporal dimension (someone makes a promise today that she does not have an interest in keeping tomorrow) and by the fact that the person making the promise is not the one to benefit from the promise being kept. What are some mechanisms for dealing with credible commitment problems?
A. enforceable contracts
B. repeated interactions
C. institutions that alter the distribution of power
D. all of these
D. all of these
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Discuss how economics affects the way people vote and how this affects elected officials.
What will be an ideal response?
The emerging market countries are found primarily among which types of countries?
a. Both economically developed countries and newly industrialized countries b. Both countries in transition and least developed of the lesser developed countries c. Both economically developed countries and lesser developed countries d. Both newly industrialized countries and least developed of the lesser developed countries e. Both newly industrialized countries and countries in transition
A legal procedure in which each side presents evidence and arguments to bolster its position while rebutting evidence that might support the other side is known as
a) an adversary proceeding. b) double jeopardy. c) a problem-solving proceeding. d) the rule of capture. e) joint litigation.
______ refers to an agency setting forth broad standards that apply to all persons and organizations meeting certain guidelines.
a. Adjudication b. Administrative rulemaking c. Partial preemption d. Tort action