One tort reform proposal is capping noneconomic damages. Noneconomic damages include A) payment for time missed from work. B) payment for the cost of a hospital stay. C) payment for pain and suffering. D) payment for the cost of care provided by a physical therapist. ANSWER Answer: C
Date: September 19th, 2020
Under a dram shop law, a business may be held liable for damages resulting from A) the sale of alcohol. B) the creation of an unsafe work place. C) the sale of prescription drugs. D) the creation of a hostile work environment. ANSWER Answer: A
Date: September 19th, 2020
Which of the following is the most important goal that a corporation should strive for? A) maximize market share B) maximize revenue C) maximize shareholder wealth D) maximize current profits ANSWER C
Date: September 19th, 2020
Documents uncovered after the Exxon Valdez oil spill in Alaska revealed that Exxon could have used double-hulled oil tankers that would have prevented the spill, but the cost of refitting their fleet of single-hulled tankers was considered too high . Exxon determined that the cost of cleaning up an oil spill would be less than […]
Date: September 19th, 2020
Malcolm was involved in an auto accident. He was judged to be 20 percent at fault in the accident, and the other party was judged to be 80 percent at fault. Malcolm’s actual damages were $40,000. Under a pure comparative negligence rule, how much will Malcolm receive for his injuries? A) $8,000 B) $24,000 C) […]
Date: September 19th, 2020
Liability may arise because of a method of collecting oil or natural gas. Under this collection method, a high-pressure flow of fluid is injected underground. This collection method is called A) clear cutting. B) flow mining. C) hydraulic fracturing. D) slurry mining. ANSWER Answer: C
Date: September 19th, 2020
In the context of medical malpractice, what is a “never event”? A) A medical condition that despite the best screening and technology cannot be detected. B) A pandemic that quickly spreads and infects many people. C) A medical error that should never occur. D) An event for which doctors and medical facilities cannot be held […]
Date: September 19th, 2020
Organized stock exchanges provide the benefits of a continuous market, fair security pricing, and helping businesses raise new capital. Indicate whether the statement is true or false ANSWER TRUE
Date: September 19th, 2020
Compensatory damages include A) general damages and special damages. B) special damages and punitive damages. C) punitive damages and general damages. D) general damages, special damages, and punitive damages. ANSWER Answer: A
Date: September 19th, 2020
The goal of the firm should be A) maximization of sales. B) maximization of market share. C) maximization of shareholder wealth. D) maximization of profits (net income per share). ANSWER C
Date: September 19th, 2020
