Suppose a plaintiff hires a lawyer to represent her in a court case. She agrees to pay the lawyer a wage per hour
She knows precisely what the lawyer should do and how long each activity should take, and she can verify that the lawyer has correctly completed each activity. She can terminate the contract at any time. With this contract, A) the lawyer bears all the risk.
B) the risk is shared by the lawyer and the plaintiff.
C) production efficiency can be achieved.
D) production efficiency is impossible.
C
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Suppose the required reserve ratio is 100%. Explain if the Federal Reserve could still change the money supply with open market operations?
What will be an ideal response?
A "war on drugs" is waged, and, as a result, a larger quantity of drugs flowing into the United States is seized and more drug traffickers are arrested. If demand for drugs is inelastic, one would expect the total expenditure on drugs to: a. decrease
b. increase. c. stay constant. d. There is not enough information available to make a determination.