If Businesses Found That Changing Economic Conditions Made It Attractive

question 48

Multiple Choice

If businesses found that changing economic conditions made it attractive for them to hire a larger number of economics majors, we would expect

• A) economics majors to receive a greater return on their human capital investment.
• B) a decrease in the employment opportunities for economics majors.
• C) lower wages for economics majors.
• D) fewer students to major in economics.

Understand market-share liability and its relevance in product liability suits.

Grasp the concept of due care in the context of product liability and its implications for manufacturers and sellers.

Understand the concept of product liability and distinguish between different types of product defects.

Identify the defenses available in product liability cases.

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Definitions:

Religious Toleration

The practice of allowing and accepting religious beliefs and practices that differ from one's own, often within a society or a state.

Economic Independence

The state of having sufficient personal wealth to live, without having to depend on income from some form of employment.

Genuine Freedom

The authentic state of being free from undue or oppressive restrictions imposed by authority on one's way of life, behavior, or political views.

Market Revolution

A period of rapid economic change in the United States during the 19th century, marked by the expansion of capitalism, the development of infrastructure, and the increase of labor and consumer markets.