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There is an ongoing debate over the use of arbitration clauses in consumer contracts. Differences between arbitration and litigation include the costs charged to the parties, the speed of resolution, and the procedure of resolving a case, including how and where the arbitration is conducted and limitations on discovery. Critics of consumer arbitration say that arbitrators and arbitration administrators can be biased, arbitration clauses are not conspicuous, and for many classes of consumer goods and services, nearly all providers require arbitration. Proponents of consumer arbitration cite "consumer-friendly" terms that lower the cost of arbitration to consumers and provide incentives for consumers to bring claims in arbitration. Most arbitration clauses require parties to waive their right to proceed on a class action basis in either court or arbitration.
1. Give an example of a company that uses consumer arbitration. (You've probably signed quite a few. Contracts for cell phones, gym memberships, leases for apartments.)
2. Should companies be permitted to include binding arbitration clauses in consumer contracts?
Graphically show deadweight welfare loss due to monopolies and then explain what it means. How can we see or feel this deadweight welfare loss?
Increase in Government expenditure makes increase in real GDP via multiplier process. If the effective multiplier for fiscal policy is 2, how much change in government purchases would be required to close a 500 billion negative output gap, other thin..
Study by the National Park Service revealed that 50 percent of vacationers going to the Rocky Mountain region visited Yellowstone Park, 40 percent visit the Tetons, and 35 percent visit both.
Consider the Romer model. If the percentage of the population engaged in ideas formation (l) (bar) decreases, what are the short and long term impacts of this shift on Y?
Microsoft wants to sell more copies the additional income from each additional copy it sells.
we want to take a random sample of four accounts in order to learn about the population. How many different random samples of four accounts are possible?
describe the amount of output produced by Stone Company. How much profit will Stone Company make when it acts as a monopolist.
q1. illustrate what are the basic steps in solving for walras equilibrium with two consumers and two commodities given
Which results in a greater welfare loss for the domestic economy.
q.gdp taxes di c i g cig1250 200 800 300 200 1500 200 1000 300 200 1750 200 1200 300 200 2000 200 1400 300 200 2250 200
Last year, $100 million in outstanding bank loans to a developing nation’s government were not renewed, and the developing nation’s government paid off $50 million in maturing government bonds that had been held by foreign residents.
On the other hand, people in developing nations usually degrade also pollute their environments locally also Do not have the similar high level of technology to mitigate these effects.
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