Question
Which of the following rules of interpretation is
applied when the words of a statute are clear and unambiguous, and there is no need to infer the intention of the legislature?Solution
• The Literal Rule requires that statutes be interpreted using the plain, ordinary meaning of the language, without delving into external sources or inferring legislative intent, unless ambiguity exists. • This rule reflects the principle that the legislature's intention is best expressed through the actual words used in the statute. • Only when the literal interpretation leads to an absurd result, the Golden Rule may be applied.
If the government imposes an excise duty on the production of a commodity, and the demand for that commodity is perfectly inelastic, the burden of the t...
What is the supply curve of a firm in Perfect Competition?
The two regression lines are 12X+8Y=104 and 24X+12Y=124. Find the correlation coefficient.
Which of the following is not an assumption of Keynesian Simple model?
A government recently introduced the Policy mix of Monetizing Budget deficit to revive the economy. Using the IS-LM framework, the impact on Output and ...
The process of converting securities (like shares) from physical form to electronic form is managed by a:
According to the Taylor principle, for inflation to be stable, the central bank must respond to an
increase in inflation with...
The Impossible Trinity (or Trilemma) in international finance states that a country cannot simultaneously have:
Consequences of high multicollinearity:
In a simple two-sector economy, the autonomous consumption is 200, the Marginal Propensity to Consume (MPC) is 0.75, and the autonomous investment expen...
