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The modal verbs shall and will have been used in the past, and continue to be used, in a variety of meanings. [8] Although when used purely as future markers they are largely interchangeable (as will be discussed in the following sections), each of the two verbs also has certain specific uses in which it cannot be replaced by the other without ...
The will/shall future consists of the modal verb will or shall together with the bare infinitive of the main verb, as in "He will win" or "I shall win". ( Prescriptive grammarians prefer will in the second and third persons and shall in the first person, reversing the forms to express obligation or determination, but in practice shall and will ...
The English modal auxiliary verbs are a subset of the English auxiliary verbs used mostly to express modality, properties such as possibility and obligation. [a] They can most easily be distinguished from other verbs by their defectiveness (they do not have participles or plain forms [b]) and by their lack of the ending ‑(e)s for the third-person singular.
As for shall vs should, my (northwestern US) ears prefer shall but the difference is very slight. Shall focuses on your magnimony, and you may already be half-standing when you say it. Should focuses on your social obligation, and you may have no intention of opening the window unless the other person says "yes".
Microeconomic reform is the implementation of policies that aim to reduce economic distortions via deregulation, and move toward economic efficiency. However, there is no clear theoretical basis for the belief that removing a market distortion will always increase economic efficiency.
Article I, § 10, clause 2 of the United States Constitution, known as the Import-Export Clause, prevents the states, without the consent of Congress, from imposing tariffs on imports and exports above what is necessary for their inspection laws and secures for the federal government the revenues from all tariffs on imports and exports.
Factor price equalization is an economic theory, by Paul A. Samuelson (1948), which states that the prices of identical factors of production, such as the wage rate or the rent of capital, will be equalized across countries as a result of international trade in commodities. The theorem assumes that there are two goods and two factors of ...
The historical antecedents of law and economics can be traced back to the classical economists, who are credited with the foundations of modern economic thought.As early as the 18th century, Adam Smith discussed the economic effects of mercantilist legislation; later, David Ricardo opposed the British Corn Laws on the grounds that they hindered agricultural productivity; and Frédéric Bastiat ...