An advantage of settling disputes via arbitration rather than court cases is that:
a. the risk of an incorrect decision in the former case is negligible.
b. the former is inexpensive and binding.
c. the former is more likely to grant a lenient decision.
d. the former may be more knowledgeable than an uninformed jury.
D
Economics
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Determinants of income differences include all of the following EXCEPT
A) age. B) marginal productivity. C) moral hazard. D) discrimination.
Economics
Suppose 10 citizens each derive marginal benefit from traffic lights according to the function MB = 10 - Q. If traffic lights cost $10 each to produce, what is the efficient quantity of traffic lights?
A) 9 traffic lights B) 12 traffic lights C) 8 traffic lights D) 1 traffic light
Economics