Describe the relationship between raising the marginal cost of crime and the quantity of crime committed. Explain the implications of this relationship as applied to property crimes
Please provide the best answer for the statement.
The basic idea is that as the marginal cost of a property crime decreases, more property crimes will be committed. This relationship means that society can reduce property crimes by increasing their price. The price can be increased by increasing fines, prison sentences, or the probability of getting caught (better surveillance and more police). It is also possible to increase the price by increasing the guilt associated with criminal activity. This latter objective can be achieved through family, religious, or education experiences.
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Japan exports cars to the other countries of the world. In an open economy Japan is most likely to have a domestic price that is ________ the world price of cars.
A. less than B. close to C. equal to D. greater than
Refer to Scenario 11.1. How much would Mariana expect to pay each landowner for his or her land?
A) $200,000 B) $400,000 C) $600,000 D) $3 million
Which of the following statements is true?
A) GDP growth distributes income equally to people in the economy. B) GDP accounting rules do not adjust for production that pollutes the economy. C) A decrease in the crime rate increases GDP as people will spend more on security. D) Household production is counted in GDP as it amounts to real production.
Suppose that in a country the total holdings of banks were as follows: required reserves = $45 million excess reserves = $15 million deposits = $750 million loans = $600 million Treasury bonds = $90 million Show that the balance sheet balances if these
are the only assets and liabilities. Assuming that people hold no currency, what happens to each of these values if the central bank changes the reserve requirement ratio to 2%, banks still want to hold the same percentage of excess reserves, and banks don't change their holdings of Treasury bonds? How much does the money supply change by?