In general, the more risk averse a plaintiff is, the ________ willing the plaintiff is to settle, and the ________ the amount the plaintiff will accept to settle.

A "primary market" is a market

A) for government securities. B) in which newly issued claims are sold to buyers by borrowers. C) in which newly issued claims are sold by savers to borrowers. D) for debt by large or "primary" corporations.

If a society only cares about efficiency and not equity, then

A) all points on the contract curve yield the same level of social welfare. B) it will not rely on competitive markets to allocate goods. C) it will maximize the utility of its worst-off member. D) an equitable outcome is impossible.