To an economist, the question of whether the right type of criminals are in jail hinges on
A. the severity of the offenses the criminals committed to get them in jail.
B. whether the jail cell would be better utilized housing someone more dangerous.
C. whether criminals show remorse.
D. the likelihood they will commit their particular crime ever again if released.
Answer: B
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Relative to a perfectly competitive market with the same cost and demand, a single-price monopolist produces ________ output and has a ________ price
A) more; higher B) less; lower C) more; lower D) less; higher
On September 3, 2003, Universal Music Group announced plans to reduce the wholesale price of music CDs it distributes by an average of 25-30 percent. All else constant (i.e
, ignoring the effects of file-sharing programs), how would this change affect the retail market for new music CDs? A) Demand for CDs would increase, causing equilibrium price and quantity to increase. B) The supply of CDs would increase, causing equilibrium price to decrease and equilibrium quantity to increase. C) Demand for CDs would decrease, causing equilibrium price and quantity to decrease. D) The supply of CDs would decrease, causing equilibrium price to increase and equilibrium quantity to decrease.
In-kind transfers
a. are cash payments given to the poor from the government. b. are available to citizens of all income levels, but usually only sought by the poor. c. are non-monetary items given to the poor. d. include food stamps, but not housing vouchers or medical services.
From World War II through 2017, the United States experienced ________ recessions.
A. 2 B. 5 C. 11 D. 15