A rational criminal model assumes
A. criminals will commit more crimes if the severity of punishment rises.
B. smart people commit crime.
C. criminals will commit more crimes if the likelihood of getting caught rises.
D. criminals commit crimes because they have few legal opportunities.
Answer: D
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In 2008, the Bank of England increased the country's money supply and lowered its interest rate. This policy was designed to
A) encourage people to buy more goods and services. B) shift the aggregate demand curve rightward. C) cause a movement up along the aggregate demand curve. D) Both A and B are correct.
The Emission Trading Scheme of the European Union
A) created a market for pollutants. B) sets a cap on the amount of pollutants in each country. C) allowed firms to benefit from emitting pollutants. D) sets the amount of per-unit tax on each pollutant.
Voss Calculator Company has a monopoly on the sale of graphing calculators. If it sells two of these calculators its total revenue is $500, and if it sells three calculators its total revenue is $700. The marginal revenue of the third calculator sold is
A. $100. B. $150. C. $200. D. $700.
The shape of the marginal cost curve reflects the
A. Law of diminishing marginal utility. B. Competitiveness of the firm. C. Law of demand. D. Law of diminishing returns.