Sofia Tells Gordon That She Wants to File a Lawsuit

question 58

Multiple Choice

Sofia tells Gordon that she wants to file a lawsuit against Renata,and then engage in mediation.Gordon tells her that she must mediate before filing a lawsuit.Is Gordon correct?

• A)Yes,once a lawsuit is initiated,she cannot engage in mediation.
• B)No,many courts have mediation programs.
• C)No,the Federal Arbitration Act mandates that mediation must occur.
• D)Yes,it is a waste of money to file a lawsuit before mediation.
• E)No,every court will mandate mediation after a lawsuit is filed.

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Definitions:

Large Aggregates

Broad categories or totals in economic data that combine several individual elements, such as national income, GDP, or total employment.

Economy as a Whole

A broad view of all the economic activities and transactions in a country or region, encompassing consumer, business, and government spending, investments, and trade balance.

Scarcity Problem

A situation where unlimited wants exceed the limited resources available to fulfill those wants, necessitating prioritization and decision-making.

Economic Wants

Desires for goods and services that individuals and businesses are willing to pay for, which drive economic activity and resource allocation.