Occupational Licensing

question 4

Multiple Choice

Occupational licensing

• A) functions essentially the same as inclusive unionism.
• B) attracts large numbers of workers and therefore depresses wages.
• C) often restricts occupational entry and raises the incomes of license holders.
• D) has been declared illegal in the majority of states.

Recognize examples of negative and positive externalities in various contexts.

Apply the Coase theorem to potential solutions for externality problems through negotiation.

Evaluate the effects of externalities on supply and demand curves in graphical analysis.

Discuss the economic rationale behind not achieving zero pollution despite its negative effects.

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Definitions:

Ethical Challenge

A situation where an individual faces a dilemma between different moral imperatives, forcing them to choose a course of action.

Peremptory Challenge

a mechanism in jury selection that allows attorneys to reject certain jurors without stating a reason.

Paralegal

A legal professional who assists lawyers in their work, performing tasks such as research, document preparation, and case management without being qualified to practice law independently.

Court Proceedings

The process of adjudicating legal disputes and administering justice through formal sessions in a court of law.