Stare Decisis Requires That

question 13

Multiple Choice

Stare decisis requires that:

• A) all courts follow decisions of all other courts.
• B) all courts follow only those decisions from the U.S. Supreme Court.
• C) trial courts follow all decisions from appellate courts.
• D) all appellate courts follow all decisions of other appellate courts.
• E) None of the above

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Definitions:

Consumption

The use of goods and services by households, referring to the final purchase of products for direct use or ownership.

Externalities

Costs or benefits that affect parties who did not choose to incur that cost or benefit.

Produced

Refers to goods or services that have been created as a result of a manufacturing or production process.

Coase Theorem

An economic theory proposing that under conditions of no transaction costs, parties can negotiate and arrive at efficient resource allocation and solution to externalities regardless of initial property rights allocation.