The proper economic method of selecting a sentence length would be to
A. compare the average cost of crime being perpetrated by the average offender if released a year earlier with the average incarceration costs for that shorter sentence.
B. compare the total cost of crime being perpetrated by the offender if released a year earlier with the incarceration costs for that shorter sentence.
C. poll pro bono defense attorneys and follow their recommendation.
D. compare the reduction in the total cost of (marginal cost) crime being perpetrated by the offender if released a year earlier with the reduction in incarceration costs (marginal benefit) for that shorter sentence.
Answer: D
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Under earnings-sharing regulation, if a firm's profits ________ above a certain level, they must be shared with the firm's ________
A) rise; customers B) fall; customers C) rise; suppliers D) fall; suppliers E) rise; competitors
The cross price elasticity of demand is measured by the
A) percentage change in the quantity demanded of one good divided by the percentage change in quantity demanded of another good. B) percentage change in the price of one good divided by the percentage change in price of another good. C) percentage change in the demand for one good divided by the percentage change in price of another good. D) percentage change in the price of one good divided by the percentage change in the demand for another good.
A price elasticity (ED) of ?1.50 indicates that for a ____ increase in price, quantity demanded will ____ by ____
a. one percent; increase; 1.50 units b. one unit; increase; 1.50 units c. one percent; decrease; 1.50 percent d. one unit; decrease; 1.50 percent e. ten percent; increase; fifteen percent
A bank's total reserves consist of
A. vault cash and Treasury bills. B. vault cash only. C. all assets. D. vault cash and reserve deposits held at a regional Federal Reserve Bank.