Question 1

The Following Questions Refer to the graph below.  
-With prohibition,demand in the market for beer will

Accepted Answer

A) Increase 
B) Decrease 
C) Shift to the right 
D) Not be affected 
E) Become flatter 
A) Increase 
B) Decrease 
C) Shift to the right 
D) Not be affected 
E) Become flatter B

Question 2

The Following Questions Refer to the graph below.  
-Curves D2 and S2 represent the market for beer if it is legal.Prohibition will cause equilibrium price and quantity to change to

Accepted Answer

A) P1 and Q2 
B) P2 and Q1 
C) P3 and Q4 
D) P4 and Q3 
E) None of the above 
A) P1 and Q2 
B) P2 and Q1 
C) P3 and Q4 
D) P4 and Q3 
E) None of the above B

Question 3

The Following Questions Refer to the table below.   The cost of each police officer is $20,000; the cost of each patrol car is $10,000.
-The total benefit of hiring three police officers is

Accepted Answer

A) $18,000 
B) $48,000 
C) $60,000 
D) $148,000 
E) $249,000 
A) $18,000 
B) $48,000 
C) $60,000 
D) $148,000 
E) $249,000 E

Question 4

Arson is an example of a(n)

Accepted Answer

A) Violent crime 
B) Crime against property 
C) Illegal trafficking of goods and services 
D) "other" crime 
E) None of the above 
A) Violent crime 
B) Crime against property 
C) Illegal trafficking of goods and services 
D) "other" crime 
E) None of the above

Question 5

Economic analysis of crime can

Accepted Answer

A) Determine what activities should be considered illegal 
B) Determine what the economic impact will be of making certain activities illegal 
C) Tell us which activities should be punishable 
D) Tell us how much it will cost to eliminate crime 
E) Do all of the above 
A) Determine what activities should be considered illegal 
B) Determine what the economic impact will be of making certain activities illegal 
C) Tell us which activities should be punishable 
D) Tell us how much it will cost to eliminate crime 
E) Do all of the above

Question 6

If the likelihood of being caught committing a crime is low,the severity of the penalty is of little importance to potential criminals.

Accepted Answer

A) True 
 B)False

Question 7

The ultimate economic goal of crime prevention is complete suppression of crimE.

Accepted Answer

A) True 
 B)False

Question 8

The Following Questions Refer to the table below.   The cost of each police officer is $20,000; the cost of each patrol car is $10,000.
-If the total budget is $100,000,what is the most efficient allocation of the crime prevention budget?

Accepted Answer

A) 1 police officer; 8 patrol cars 
B) 2 police officers; 6 patrol cars 
C) 3 police officers; 4 patrol cars 
D) 4 police officers; 2 patrol cars 
E) 5 police officers; 0 patrol cars 
A) 1 police officer; 8 patrol cars 
B) 2 police officers; 6 patrol cars 
C) 3 police officers; 4 patrol cars 
D) 4 police officers; 2 patrol cars 
E) 5 police officers; 0 patrol cars

Question 9

The Following Questions Refer to the table below.  
-The net benefit of an additional unit of crime prevention to society is highest with how many units of crime prevention?

Accepted Answer

A) 0 
B) 1 
C) 3 
D) 5 
E) 6 
A) 0 
B) 1 
C) 3 
D) 5 
E) 6

Question 10

Vandalism is a violent crimE.

Accepted Answer

A) True 
 B)False

Question 11

The Following Questions Refer to the graph below.  
-Which of the following shifts best represents the likely effect of legalizing marijuana?

Accepted Answer

A) D1 to D2 
B) D2 to D1 
C) S2 to S1 
D) D1 to D2 and S1 to S2 
E) D2 to D1 and S1 to S2 
A) D1 to D2 
B) D2 to D1 
C) S2 to S1 
D) D1 to D2 and S1 to S2 
E) D2 to D1 and S1 to S2

Question 12

The costs of resources used in crime prevention

Accepted Answer

A) Are equal to the value those resources would have provided in their best alternative use 
B) Are equal to the value of these resources in reducing crime 
C) Can be approximated by the expenditures on criminal activities 
D) Both (a)and (c) 
E) All of the above 
A) Are equal to the value those resources would have provided in their best alternative use 
B) Are equal to the value of these resources in reducing crime 
C) Can be approximated by the expenditures on criminal activities 
D) Both (a)and (c) 
E) All of the above

Question 13

If the correct amount has been budgeted for crime prevention activities,the last dollar spent should yield approximately one dollar's worth of additional benefits.

Accepted Answer

A) True 
 B)False

Question 14

From the viewpoint of a society as a whole,theft represents a transfer of income to thieves from victims of theft.

Accepted Answer

A) True 
 B)False

Question 15

People choose to participate in criminal activities because

Accepted Answer

A) Their implicit costs are low 
B) They have a strong,unrestrained emotion 
C) The probability of getting caught is low 
D) The potential return is high 
E) All of the above 
A) Their implicit costs are low 
B) They have a strong,unrestrained emotion 
C) The probability of getting caught is low 
D) The potential return is high 
E) All of the above

Question 16

Which of the following would not result from the legalization of marijuana?

Accepted Answer

A) A fall in the price of marijuana 
B) An increase in the quality of marijuana 
C) A significant increase in the supply of marijuana 
D) A significant increase in the demand for marijuana 
E) A decrease in the supply of marijuana 
A) A fall in the price of marijuana 
B) An increase in the quality of marijuana 
C) A significant increase in the supply of marijuana 
D) A significant increase in the demand for marijuana 
E) A decrease in the supply of marijuana

Question 17

Marginal social benefits are the positive social spillovers in consumption that result from the consumption of public goods.

Accepted Answer

A) True 
 B)False

Question 18

The Following Questions Refer to the table below.  
-As more crime prevention is added,the MSB of crime prevention

Accepted Answer

A) Increases 
B) Decreases 
C) Becomes higher than MCS 
D) Does not change 
E) Is more difficult to determine 
A) Increases 
B) Decreases 
C) Becomes higher than MCS 
D) Does not change 
E) Is more difficult to determine

Question 19

The Following Questions Refer to the graph below.  
-With prohibition,supply in the market for beer will

Accepted Answer

A) Increase 
B) Decrease 
C) Shift to the right 
D) Not be affected 
E) Become flatter 
A) Increase 
B) Decrease 
C) Shift to the right 
D) Not be affected 
E) Become flatter

Question 20

If income from the sale of illegal goods exceeds the production costs of the goods,which of the following is true?

Accepted Answer

A) The criminal earns a profit 
B) Crime "pays" 
C) Revenue plus psychic income exceeds all costs 
D) Income more than covers explicit,implicit,and psychic costs 
E) All of the above 
A) The criminal earns a profit 
B) Crime "pays" 
C) Revenue plus psychic income exceeds all costs 
D) Income more than covers explicit,implicit,and psychic costs 
E) All of the above

The Following Questions Refer to the graph below. -With prohibition,demand in the market for beer will

The Following Questions Refer to the graph below. -Curves D₂ and S₂ represent the market for beer if it is legal.Prohibition will cause equilibrium price and quantity to change to

The Following Questions Refer to the table below. The cost of each police officer is $20,000; the cost of each patrol car is $10,000. -The total benefit of hiring three police officers is

Arson is an example of a(n)

Economic analysis of crime can

If the likelihood of being caught committing a crime is low,the severity of the penalty is of little importance to potential criminals.

The ultimate economic goal of crime prevention is complete suppression of crimE.

The Following Questions Refer to the table below. The cost of each police officer is $20,000; the cost of each patrol car is $10,000. -If the total budget is $100,000,what is the most efficient allocation of the crime prevention budget?

The Following Questions Refer to the table below. -The net benefit of an additional unit of crime prevention to society is highest with how many units of crime prevention?

Vandalism is a violent crimE.

The Following Questions Refer to the graph below. -Which of the following shifts best represents the likely effect of legalizing marijuana?

The costs of resources used in crime prevention

If the correct amount has been budgeted for crime prevention activities,the last dollar spent should yield approximately one dollar's worth of additional benefits.

From the viewpoint of a society as a whole,theft represents a transfer of income to thieves from victims of theft.

People choose to participate in criminal activities because

Which of the following would not result from the legalization of marijuana?

Marginal social benefits are the positive social spillovers in consumption that result from the consumption of public goods.

The Following Questions Refer to the table below. -As more crime prevention is added,the MSB of crime prevention

The Following Questions Refer to the graph below. -With prohibition,supply in the market for beer will

If income from the sale of illegal goods exceeds the production costs of the goods,which of the following is true?

Alleviating Human Misery: The Role of Economic Reasoning

Economic Systems, Resource Allocation, and Social Well-Being: Lessons From Chinas Transition

Government Control of Prices in Mixed Systems: Who Are the Winners and Losers

Pollution Problems: Must We Foul Our Own Nests

The Economics of Education: Crisis and Reform

Poverty Problems and Discrimination: Why Are so Many Still so Poor

The Economics of Monopoly Power: Can Markets Be Controlled

The Economics of Professional Sports: What Is the Real Score

Competition in the Global Market-Place: Should We Protect Ourselves From International Trade

Economic Growth: Why Is the Economic Road so Bumpy

Money,Banking and the Financial System: Old Problems With New Twists

Unemployment and Inflation: Can We Find a Balance

Government Spending,Taxation,and the National Debt: Who Wins and Who Loses

Social Security and Medicare: How Secure Is Our Safety Net for the Elderly

Filters

Exam 5: Economics of Crime and Its Prevention: How Much Is Too Much

The Following Questions Refer to the graph below. -With prohibition,demand in the market for beer will

The Following Questions Refer to the graph below. -Curves D2 and S2 represent the market for beer if it is legal.Prohibition will cause equilibrium price and quantity to change to

The Following Questions Refer to the table below. The cost of each police officer is $20,000; the cost of each patrol car is $10,000. -The total benefit of hiring three police officers is

Arson is an example of a(n)

Economic analysis of crime can

If the likelihood of being caught committing a crime is low,the severity of the penalty is of little importance to potential criminals.

The ultimate economic goal of crime prevention is complete suppression of crimE.

The Following Questions Refer to the table below. The cost of each police officer is $20,000; the cost of each patrol car is $10,000. -If the total budget is $100,000,what is the most efficient allocation of the crime prevention budget?

The Following Questions Refer to the table below. -The net benefit of an additional unit of crime prevention to society is highest with how many units of crime prevention?

Vandalism is a violent crimE.

The Following Questions Refer to the graph below. -Which of the following shifts best represents the likely effect of legalizing marijuana?

The costs of resources used in crime prevention

If the correct amount has been budgeted for crime prevention activities,the last dollar spent should yield approximately one dollar's worth of additional benefits.

From the viewpoint of a society as a whole,theft represents a transfer of income to thieves from victims of theft.

People choose to participate in criminal activities because

Which of the following would not result from the legalization of marijuana?

Marginal social benefits are the positive social spillovers in consumption that result from the consumption of public goods.

The Following Questions Refer to the table below. -As more crime prevention is added,the MSB of crime prevention

The Following Questions Refer to the graph below. -With prohibition,supply in the market for beer will

If income from the sale of illegal goods exceeds the production costs of the goods,which of the following is true?

Alleviating Human Misery: The Role of Economic Reasoning

Economic Systems, Resource Allocation, and Social Well-Being: Lessons From Chinas Transition

Government Control of Prices in Mixed Systems: Who Are the Winners and Losers

Pollution Problems: Must We Foul Our Own Nests

The Economics of Education: Crisis and Reform

Poverty Problems and Discrimination: Why Are so Many Still so Poor

The Economics of Monopoly Power: Can Markets Be Controlled

The Economics of Professional Sports: What Is the Real Score

Competition in the Global Market-Place: Should We Protect Ourselves From International Trade

Economic Growth: Why Is the Economic Road so Bumpy

Money,Banking and the Financial System: Old Problems With New Twists

Unemployment and Inflation: Can We Find a Balance

Government Spending,Taxation,and the National Debt: Who Wins and Who Loses

Social Security and Medicare: How Secure Is Our Safety Net for the Elderly

Filters

The Following Questions Refer to the graph below. -Curves D₂ and S₂ represent the market for beer if it is legal.Prohibition will cause equilibrium price and quantity to change to