Question 1

Trafficking in illegal goods and services necessarily reduces the economic welfare of a society.

Accepted Answer

A) True 
 B)False

Question 2

Trafficking in illegal goods and services adds to the well-being of consumers.

Accepted Answer

A) True 
 B)False

Question 3

The Following Questions Refer to the graph below.  
-In addition to the change in supply,demand,price,and quantity of beer,prohibition would have which of the following effects?

Accepted Answer

A) Improved quality 
B) Less criminal activity 
C) A decrease in resources needed for crime prevention 
D) All of the above 
E) None of the above 
A) Improved quality 
B) Less criminal activity 
C) A decrease in resources needed for crime prevention 
D) All of the above 
E) None of the above

Question 4

The Following Questions Refer to the graph below.  
-Which of the following shifts best represents the likely effect of prohibition on the market for beer?

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 S2 to S1 
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 S2 to S1

Question 5

Which of the following is an explicit cost of an illegal marijuana growing operation? The cost of

Accepted Answer

A) Land 
B) Electricity 
C) Fertilizer and pesticides 
D) Labor 
E) All of the above 
A) Land 
B) Electricity 
C) Fertilizer and pesticides 
D) Labor 
E) All of the above

Question 6

Which of the following statements is correct?

Accepted Answer

A) Criminal acts are illegal acts whether or not those acts are immoral 
B) Some immoral acts are criminal acts and some are not 
C) Some acts are criminal because they lead to consequences the criminal is unaware of 
D) Some acts that might result in chaotic conditions are made criminal by legislative bodies 
E) All of the above 
A) Criminal acts are illegal acts whether or not those acts are immoral 
B) Some immoral acts are criminal acts and some are not 
C) Some acts are criminal because they lead to consequences the criminal is unaware of 
D) Some acts that might result in chaotic conditions are made criminal by legislative bodies 
E) All of the above

Question 7

The Following Questions Refer to the table below.  
-The marginal social benefit of the third unit of crime prevention is

Accepted Answer

A) 200 
B) 180 
C) 160 
D) 140 
E) 90 
A) 200 
B) 180 
C) 160 
D) 140 
E) 90

Question 8

Crime prevention activities should be expanded to the point at which their marginal social benefit is equal to their marginal social costs.

Accepted Answer

A) True 
 B)False

Question 9

Which of the following is an implicit cost of an illegal marijuana growing operation?

Accepted Answer

A) Foregone income due to time spent managing the operation 
B) Lost time if the manager is caught 
C) Lost liberty if the manager is jailed 
D) The value of the time spent avoiding detection 
E) All of the above 
A) Foregone income due to time spent managing the operation 
B) Lost time if the manager is caught 
C) Lost liberty if the manager is jailed 
D) The value of the time spent avoiding detection 
E) All of the above

Question 10

Which of the following policies could increase the cost of committing crimes?

Accepted Answer

A) Job training programs 
B) Increased employment opportunities 
C) Higher crime prevention budgets 
D) More severe penalties 
E) All of the above 
A) Job training programs 
B) Increased employment opportunities 
C) Higher crime prevention budgets 
D) More severe penalties 
E) All of the above

Question 11

If you love your job,you are receiving psychic incomE.

Accepted Answer

A) True 
 B)False

Question 12

If abortion is made illegal,demand and supply will fall.

Accepted Answer

A) True 
 B)False

Question 13

Marginal social benefits of crime prevention activities

Accepted Answer

A) Are the increase in the value of such activities to the community resulting from a one-unit increase in such activities 
B) Are difficult to calculate 
C) Usually decrease with additional units of those activities 
D) Include a decrease in the suffering of crime victims 
E) All of the above 
A) Are the increase in the value of such activities to the community resulting from a one-unit increase in such activities 
B) Are difficult to calculate 
C) Usually decrease with additional units of those activities 
D) Include a decrease in the suffering of crime victims 
E) All of the above

Question 14

Illegal acts are

Accepted Answer

A) Also immoral 
B) Ones that society has determined that it is better off allowing 
C) Designated as such by the criminal justice system 
D) Prevented once a law is passed 
E) All of the above 
A) Also immoral 
B) Ones that society has determined that it is better off allowing 
C) Designated as such by the criminal justice system 
D) Prevented once a law is passed 
E) All of the above

Question 15

The Following Questions Refer to the table below.  
-The marginal social cost of the fourth unit of crime prevention is

Accepted Answer

A) 270 
B) 180 
C) 160 
D) 90 
E) 60 
A) 270 
B) 180 
C) 160 
D) 90 
E) 60

Question 16

Murder is both illegal and immoral.

Accepted Answer

A) True 
 B)False

Question 17

If increasing police patrols in a neighborhood requires paying officers overtime,then the marginal cost of additional police patrols

Accepted Answer

A) Increases 
B) Decreases 
C) Equals MSB 
D) Must fall before it is efficient to have more patrols 
E) Are too high 
A) Increases 
B) Decreases 
C) Equals MSB 
D) Must fall before it is efficient to have more patrols 
E) Are too high

Question 18

Assume police officers and prison guards earn $30,000.Hiring a police officer changes the total benefits of crime prevention from 100 to 120,while hiring a prison guard increases total benefits from 100 to 115.If the crime prevention budget is increased by $30,000,which of the following is the most efficient way to spend the money?

Accepted Answer

A) Hire a guard 
B) Hire a police officer 
C) Hire one guard and one police officer 
D) Hire a half time guard and a half time police officer 
E) Do not spend the additional money 
A) Hire a guard 
B) Hire a police officer 
C) Hire one guard and one police officer 
D) Hire a half time guard and a half time police officer 
E) Do not spend the additional money

Question 19

Semi-private goods and services yield identifiable benefits to the one who consumes them,but their consumption by one person yields spillover benefits to other persons.

Accepted Answer

A) True 
 B)False

Question 20

Consumer ratings of products online,like the Zagat's Restaurant Guide and ePinions can be considered examples of

Accepted Answer

A) Private goods 
B) Public goods 
C) Semi-private goods 
D) Experience goods 
E) Worthless,since you don't know who is doing the reviewing 
A) Private goods 
B) Public goods 
C) Semi-private goods 
D) Experience goods 
E) Worthless,since you don't know who is doing the reviewing

Trafficking in illegal goods and services necessarily reduces the economic welfare of a society.

Trafficking in illegal goods and services adds to the well-being of consumers.

The Following Questions Refer to the graph below. -In addition to the change in supply,demand,price,and quantity of beer,prohibition would have which of the following effects?

The Following Questions Refer to the graph below. -Which of the following shifts best represents the likely effect of prohibition on the market for beer?

Which of the following is an explicit cost of an illegal marijuana growing operation? The cost of

Which of the following statements is correct?

The Following Questions Refer to the table below. -The marginal social benefit of the third unit of crime prevention is

Crime prevention activities should be expanded to the point at which their marginal social benefit is equal to their marginal social costs.

Which of the following is an implicit cost of an illegal marijuana growing operation?

Which of the following policies could increase the cost of committing crimes?

If you love your job,you are receiving psychic incomE.

If abortion is made illegal,demand and supply will fall.

Marginal social benefits of crime prevention activities

Illegal acts are

The Following Questions Refer to the table below. -The marginal social cost of the fourth unit of crime prevention is

Murder is both illegal and immoral.

If increasing police patrols in a neighborhood requires paying officers overtime,then the marginal cost of additional police patrols

Semi-private goods and services yield identifiable benefits to the one who consumes them,but their consumption by one person yields spillover benefits to other persons.

Consumer ratings of products online,like the Zagat's Restaurant Guide and ePinions can be considered examples of

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

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

Trafficking in illegal goods and services necessarily reduces the economic welfare of a society.

Trafficking in illegal goods and services adds to the well-being of consumers.

The Following Questions Refer to the graph below. -In addition to the change in supply,demand,price,and quantity of beer,prohibition would have which of the following effects?

The Following Questions Refer to the graph below. -Which of the following shifts best represents the likely effect of prohibition on the market for beer?

Which of the following is an explicit cost of an illegal marijuana growing operation? The cost of

Which of the following statements is correct?

The Following Questions Refer to the table below. -The marginal social benefit of the third unit of crime prevention is

Crime prevention activities should be expanded to the point at which their marginal social benefit is equal to their marginal social costs.

Which of the following is an implicit cost of an illegal marijuana growing operation?

Which of the following policies could increase the cost of committing crimes?

If you love your job,you are receiving psychic incomE.

If abortion is made illegal,demand and supply will fall.

Marginal social benefits of crime prevention activities

Illegal acts are

The Following Questions Refer to the table below. -The marginal social cost of the fourth unit of crime prevention is

Murder is both illegal and immoral.

If increasing police patrols in a neighborhood requires paying officers overtime,then the marginal cost of additional police patrols

Semi-private goods and services yield identifiable benefits to the one who consumes them,but their consumption by one person yields spillover benefits to other persons.

Consumer ratings of products online,like the Zagat's Restaurant Guide and ePinions can be considered examples of

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