An example of the type of crime that is contemplated by the rational criminal model is
A. spousal abuse.
B. murder for hire.
C. rape.
D. school shooting.
Answer: B
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The reason relative purchasing power parity (RPPP) is better at predicting exchange rates than absolute purchasing power parity (APPP) is because:
a. Actually, it is the other way around. APPP has been shown empirically and theoretically to be a more accurate way to predict exchange rates. b. APPP deals only with countries that have some sort of imbalance like hyperinflation. RPPP deals with any and all countries, which makes the job of predicting exchange rates easier. c. APPP has to begin and end in parity. RPPP just requires that the initial disequilibrium remain the same. d. APPP predictions are often biased because of central bank controls, sticky prices, and protectionism. RPPP can abstract from these problems.
________ is an increase in the price level, while ________ is an increase in the price of one good in comparison to other goods and services.
A. A relative price increase; inflation B. Hyperinflation; inflation C. Inflation; a relative price increase D. Inflation; hyperinflation
Which of the following factors reduces the need for government involvement in the marketplace?
A. The need for public goods B. Incomplete information C. The incentive to rent-seek D. The presence of externalities
??Firm 2???High PriceLow PriceFirm 1High PriceFirm 1 earns $100; Firm 2 earns $100Firm 1 earns $25; Firm 2 earns $150?Low PriceFirm 1 earns $150; Firm 2 earns $25Firm 1 earns $50; Firm 2 earns $50Table 12.2In the game shown in Table 12.2, if Firm 1 believes that Firm 2 will choose the high price strategy, Firm 1 should:
A. choose the low price strategy. B. choose the high price strategy. C. refuse to play the game because Firm 1 will surely lose. D. choose a strategy at random because Firm 1 cannot control the outcome.