Did George Act Properly in Hearing the Dispute

question 49

Multiple Choice

Did George act properly in hearing the dispute?

• A) He acted properly because it is presumed that arbitrators are unbiased regardless of their relationship with a party.
• B) He acted properly because he only had to reveal the information at issue if Susan had directly asked about it.
• C) He should have revealed that he was married to Bob's cousin, but none of the other information had to be revealed.
• D) He should have revealed that he had received loans from Bob, but he had no obligation to reveal other information.
• E) He should have revealed all the information and should have refused to arbitrate the case. His actions would be considered by a federal district judge and the award would likely be set aside because of showing of bias.

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Definitions:

Output

The total quantity of goods or services produced by a company, sector, or economy within a given period.

Revenues

The total income generated by a business or an economy from its operational activities, such as the sale of goods or services before any expenses are deducted.

Costs

Costs refer to the expenses incurred in the production of goods or services, including materials, labor, and overhead.

Marginal Product

The growth in productivity that occurs when an extra unit of input is added, with all other inputs remaining the same.