In Exxon Shipping Company V

question 2

Multiple Choice

In Exxon Shipping Company v.Baker,the case in the text,the U.S.Supreme Court decided that the jury's award of $2.5 billion in punitive damages coupled with $507.5 million in compensatory damages was:

• A)excessive as a matter of maritime common law.
• B)excessive because the jury did not have a rational basis for the awarded amount.
• C)appropriate because punitive damages are meant to punish.
• D)appropriate because the jury's method of calculating punitive damages was reasonable.

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Definitions:

Economic Questions

Fundamental queries regarding what to produce, how to produce, and for whom to produce, which economies must address.

Goods And Services

The products and activities that satisfy human wants, available for purchase in the marketplace, including both tangible items and intangible performances.

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An economic system where supply and demand from consumers direct the production of goods and services and determine their prices.

Goods And Services

Refers to the tangible products and intangible services that are produced and consumed within an economy.