Category: Economics

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➤ How are contingency fees calculated and what costs might still be owed?
Contingency fees are usually a percentage of the gross or net recovery, commonly 33% to 40% depending on complexity and whether the case settles or goes to trial. Clients may still owe litigation expenses—court costs, expert fees, and medical records—either deducted before the lawyer’s share or reimbursed from the recovery per the fee agreement.

Which of the following is an example of human capital?Machinery and equipment used in productionEducation and training of workersRaw materials used in productionFinancial investments in a company

Which of the following exchange rate systems is best suited for a countrywith trade concentrated with one major country?
Fixed exchange rate
Floating exchange rate
Currency standrard
Managed floating

➤ How does a decrease in interest rates boost consumption and investment?
Lower interest rates reduce the cost of borrowing for consumers and businesses. Households buy more durables and mortgage-financed housing. Firms find more projects profitable, raising capital spending. Lower rates also increase present value of future profits and asset prices, which supports spending. Together these channels expand the C and I components of AD.