Which of the Following Is True About the Law and Economics

question 71

Multiple Choice

Which of the following is true about the Law and Economics School of jurisprudence?

• A) It is also known as the Chicago School.
• B) It promotes the use of economic principles in resolving cases, so long as the case is one involving business.
• C) It would say that a case which no lawyer would take on a contingent fee basis should be brought by an attorney who is paid by the state.
• D) It holds that antitrust cases should be vigorously prosecuted in order to protect the economic viability of smaller firms.
• E) There is no Law and Economics School of jurisprudence.

Recognize the role of equilibrium in the market and how it is established.

Identify factors that cause shifts in supply and demand curves, and understand their effects on market outcomes.

Appreciate the impact of governmental policies such as price floors, ceilings, and rent controls on market equilibrium.

Grasp the concepts of usury and laws regulating interest rates and their implications for consumers and the market.

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Definitions:

Gender Expectations

Socially constructed norms and beliefs about the behaviors and attributes considered appropriate for men and women in a given society.

Physical Attractiveness

The degree to which a person's physical traits are considered aesthetically pleasing or beautiful by others.

Formal Operational

Describes a stage in Jean Piaget's theory of cognitive development, where individuals (typically adolescents and adults) gain the ability to think abstractly and reason logically.

Piaget

A Swiss psychologist known for his developmental stage theory that describes how children's cognitive abilities evolve.