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In order to calculate the damages remoteness test of directness was replaced with foreseeability in the Wagan Mound case. In this case a large quantity of oil was spilt into Sydney Harbour from the Wagon Mound and it drifted under the wharf where the claimants were oxyacetylene welding. The resulting fire caused extensive damage to the wharf and to vessels moored nearby. The Privy Council replaced the direct consequence test with the requirement that, in order to be recoverable, damage must be foreseeable in all the circumstances, thus, although pollution was a foreseeable consequence of the spillage, an outbreak of fire was not.
'Distributed Profits' is also known as:
If two dice are thrown together, what is the probability of getting an even number on one dice and an odd number on the other dice?
Consider the following Utility function U(x,y) = 4x+5y. The price of x and y are 5 and 6 respectively. The income of the consumer is 120. Calculate the ...
Match the following
A. Modigliani I. Liquidity Trap
B. Hicks ...
Consider the following set of data:
{23.32 32.33 32.88 28.98 33.16 26.33 29.88 32.69 18.98 21.23 26.66 29.89}
If f(x) is continuous for all real values of x and f(x) takes on only rational values, then if f(1)=1, the value of f(0) is
If interest payments are subtracted from gross fiscal deficit, the remainder will be
What is the slope of the Engel curve for a Giffen good?
The reduction in cost due to increase in efficiency is referred as_____.