From the viewpoint of potential criminals, the probability of being fined or imprisoned:
A. Raises the marginal utility of criminal behavior
B. Lowers the marginal utility of criminal behavior
C. Raises the marginal cost or "price" of criminal behavior
D. Lowers the marginal cost or "price" of criminal behavior
C. Raises the marginal cost or "price" of criminal behavior
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The ratio of a country's exports to its total output (GNP or GDP)
A) is known as the index of openness. B) provides a rough measure of the importance of international trade to that economy. C) if calculated for the United States would be quite low. D) All of the above.
Specialization occurs because
A) society trades current consumption for future consumption. B) the production possibilities curve tends to be linear. C) people have different skills. D) society produces made the production possibilities curve.
In which of the following statements are the terms "demand" and "quantity demanded" used correctly?
A. When the price of ice cream rose, the demand for both ice cream and ice cream toppings fell. B. When the price of ice cream rose, the quantity demanded of ice cream fell, and the demand for ice cream toppings fell. C. When the price of ice cream rose, the demand for ice cream fell, and the quantity demanded of ice cream toppings fell. D. None of these statements use the terms correctly.
The Heyerdahl index is a measure of:
A. Profitability in an industry B. The price level in an industry C. The costs in an industry D. Market power in an industry