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Until the 1977 Supreme Court decision in Bates v. State Bar of Arizona, all states prohibited advertising by attorneys. That decision gave constitutional protection to an attorney’s right to advertise the availability of their services and the fees to perform routine legal services.
A) What effect do you predict the 1977 decision had on legal fees? (Up? Down? Either? Can’t tell?) Why?
B) How would you test your hypothesis? Be as specific as possible.
Personal income taxes are reduced as part of an expansionary fiscal policy. What is the impact on aggregate expenditures and income?
Which of the following is true about income levels in Western Europe and Latin America before 1700? Average income in Western Europe was higher than that in Latin America.
A perfectly competitive firm has the cost curves drawn in the following diagram. If the firm's output sells for $16 per unit, what is the firm's profit-maximizing output? Why?
At Dulles airport, only taxis and privately owned cars are allowed to use the highway between downtown and the airport. That taxi market is competitive. There is a special lane for taxis so they are always able to travel at 55mph. Suppose P,E and G c..
Determine how much money would be in a savings account that started with a deposit of $2000 in year 1 with each succeeding amount increasing by 10%/yr. Assume a 7 year period and an interest rate of 15%.
The time to complete the construction of a soapbox derby car is normally distributed with a mean of three hours and a standard deviation of one hour. Find the probability that it would take more than five hours to construct a soapbox derby car
Four students from your economics class are sitting in a local restaurant Talk about the marketplace for coffee.
Look at each of the following cases from the point of view of the balance of payments for the United States. Determine the "subcategory" of the current account or financial account that each transaction would be classified in, and state whether it wo..
A mechanical engineer who recently graduated with a master’s degree is contemplating starting his own commercial heating and cooling company. He can purchase a Web Page design package aimed at delivering information only for $1,500 per year. what is ..
The step-by-step process of finding the choice with highest total utitily involves a comparison of the:
Henderson Office Supply is considering a more liberal credit policy to increase sales, but expects that 9 percent of the new accounts will be uncollectible. What is the level of accounts receivable to support this sales expansion? What would be Hende..
You have been asked to produce a forecast for your company's new product (bottled water). List and briefly describ four factors you would consider before giving the forecast.
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