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1. What is meant by cause-in-fact? Explain how the logic of cause-in-fact does not always make economic sense.
2. Why is it that in manufacturing and medicine the legal rule is generally strict liability?
3. Explain the following quote from Richard Epstein: "The moral case behindstrict liability is that the distribution of gains and losses matters as much as the total size of the social pie."
4. How is it that tort law is inadequate to deal with crime?
5. How is it that the economic theory of crime and punishment differs from the traditional theory of criminal law? what does the economic model add?
The unemployment rate reported by the Bureau of Labor Statistics includes all of the following type of unemployment with the exception of
Illustrate what are the long run equilibrium price, quantity of a single firm and the industry output. How many firms are in the market.
Investigate the Venezuelan economy. What is their current situation with price increases in that country? In other words, what is their inflation picture today? Explain some possible reasons for their situation.
You are shown four envelopes. Envelope A contains $1,500; envelopes B, C and D contain uncertain amounts of money but with the following probabilities: Envelope B -- $5,000 with a 10 percent probability, $1,500 with an 89 percent probability, and $50..
The steady state of the Solow growth model with exogenous technological progress and Cobb-Douoglas technology predicts that the real rental rate (ie: the price) of capital will not exhibit long run growth if the capital input market clearing conditio..
Holdt Inc. produces and sells a single product. The selling price of the product is $110.00 per unit and its variable cost is $70 per unit. The fixed expense is $160,000 per month. The break-even sales (units) are:
Show, using an AS-AD graph, how government can use accommodating monetary or fiscal policy to return output and unemployment to their long-run values.
______An organization's shared values, beliefs, traditions, philosophies, rules, and role models for behavior represent its
first assume that all us produced wheat is consumed domestically and there are no wheat imports. next assume that the
What do you think the sign and magnitude of the Cross-Price Elasticity of Demand would be between premium juices and soda.
What are the four tools that the feds use can use to alter the reserves of commercial banks, and specifically how have they been applied by the Fed to eliminate the last recession?
Consider a project that will bring in upfront cash inflows for the first two years but require paying some money to close the project in the third year. A0 = $ 6,500 A1= $ 4,500 A2 = $ -13,000 This is a simple borrowing project. Determine the borrowi..
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