Which of the following is not an example of a crime contemplated by the rational criminal model?
A. Murder for hire
B. Spousal abuse
C. Car theft
D. Insurance fraud
Answer: B
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What is the motivation for individuals to hold money?
A) to facilitate transactions B) to reduce risk C) to have liquidity D) all of the above
Which of the following describes how a negative externality affects a competitive market?
A) The externality causes a difference between the private cost of production and the private benefit from consumption. B) The externality causes consumer surplus to exceed producer surplus. C) The externality causes a difference between the private cost of production and the equilibrium price. D) The externality causes a difference between the private cost of production and the social cost.
The law of increasing opportunity cost explains why
a. opportunity cost is constant along the production possibilities frontier b. the production possibilities frontier is downward sloping c. the production possibilities frontier is curved d. efficient points lie along the production possibilities frontier e. technology remains constant along a production possibilities frontier
A firm's short-run supply curve is its marginal cost curve above its average total cost curve.
Answer the following statement true (T) or false (F)