Shareholders of a Corporation Brought a Class Action Against the President,alleging

question 40

Multiple Choice

Shareholders of a corporation brought a class action against the president,alleging that they missed out on dividends and an increase in the value of their shares because the president misappropriated funds of the corporation.This suit was successful and the president paid $10 million in damages.This money will go to:

• A) the shareholders who brought the class action.
• B) the treasury of the corporation.
• C) the state,as a fine.
• D) the federal government,as a fine.

Understand the concept of strict liability and its application.

Recognize the significance of warnings and their adequacy in product use.

Distinguish between various parties' liability in the stream of commerce.

Comprehend the application of alternative design considerations in product liability cases.

---

Definitions:

John Maynard Keynes

An economist hailing from Britain, whose groundbreaking ideas redefined the scope of macroeconomics and governmental policy initiatives.

Karl Marx

A 19th-century philosopher, economist, and revolutionary socialist who developed the theory of Marxism, focusing on the conflicts within capitalism and its eventual overthrow.

Milton Friedman

An influential American economist known for his strong belief in free-market capitalism and for his role in the development of monetarism.

Murray Weidenbaum

An economic advisor and scholar known for his work on public policy and regulation, serving as the chairman of the Council of Economic Advisers under President Ronald Reagan.