According to the Federal Arbitration Act:
a. parties must always use arbitration before going to court b. arbitration is not recognized by the government
c. arbitration is allowed only for claims under 75,000 d. arbitration must be pre-approved by a court
e. courts must uphold agreements to arbitrate
Question 2
When an arbitrator is used, which is usually true:
a. the arbitrator is a biased expert
b. the arbitrators is trusted by both parties
c. the matter is resolved more slowly than in most court trials d. the procedure is more costly than a regular trial
e. all of the other choices are possible
Federal vs state govenment
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Table 6.1 illustrates the main regime types and their differences. It breaks the regimes into four
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Annual Federal Deficit (or Surplus), 1992–2016
US federal budget deficit/surplus and debt