Question 1

If a law is passed making it illegal for unlicensed barbers to cut hair,which of the following will result?

Accepted Answer

A) Higher quality haircuts 
B) Higher priced haircuts 
C) Cleaner,more sanitary barber shops 
D) Lower priced haircuts 
E) More barbers in the trade 
A) Higher quality haircuts 
B) Higher priced haircuts 
C) Cleaner,more sanitary barber shops 
D) Lower priced haircuts 
E) More barbers in the trade

Question 2

The legalization of marijuana would be unlikely to greatly increase the demand for the gooD.

Accepted Answer

A) True 
 B)False

Question 3

The free-rider problem occurs when people cannot be excluded from the benefits of a public good even though they do not help pay for production of it.

Accepted Answer

A) True 
 B)False

Question 4

Which of the following could explain why criminals commit crimes that are punished by the death penalty?

Accepted Answer

A) They perceive that the probability of getting caught is zero 
B) The crime is a "crime of passion." 
C) Their opportunity cost is zero 
D) The benefit of the crime is infinite 
E) All of the above 
A) They perceive that the probability of getting caught is zero 
B) The crime is a "crime of passion." 
C) Their opportunity cost is zero 
D) The benefit of the crime is infinite 
E) All of the above

Question 5

The demand for abortions would fall significantly if the service were made illegal.

Accepted Answer

A) True 
 B)False

Question 6

The economic effects of prohibition of alcoholic beverages include a decrease in supply,an increase in price,and a decrease in quality.

Accepted Answer

A) True 
 B)False

Question 7

Government can effectively remedy the free-rider problem by taxing all who receive benefits of a public gooD.

Accepted Answer

A) True 
 B)False

Question 8

More criminal justice expenditures should be made for detection and apprehension of criminals.

Accepted Answer

A) True 
 B)False

Question 9

Current reports on crime are concerned solely with the number of crimes committed and not with dollar estimates of their cost.

Accepted Answer

A) True 
 B)False

Question 10

The most likely economic effects of the legalization of marijuana are

Accepted Answer

A) An increase in both supply and demand 
B) A fall in the price of marijuana 
C) An increase in marijuana use 
D) An increase in the quality of marijuana 
E) All of the above 
A) An increase in both supply and demand 
B) A fall in the price of marijuana 
C) An increase in marijuana use 
D) An increase in the quality of marijuana 
E) All of the above

Question 11

Which of the following goods or services is a public good?

Accepted Answer

A) Polio immunization 
B) Stamp collection 
C) A smoke detector 
D) National defense 
E) A burglar alarm 
A) Polio immunization 
B) Stamp collection 
C) A smoke detector 
D) National defense 
E) A burglar alarm

Question 12

Which of the following DOES NOT go into the calculation of the implicit cost of a marijuana growing operation?

Accepted Answer

A) The probability of getting caught 
B) The severity of potential jail sentences 
C) The time it takes to tend the crop 
D) Payments for fertilizer and pesticides 
E) None of the above (they all go into the calculation of implicit costs) 
A) The probability of getting caught 
B) The severity of potential jail sentences 
C) The time it takes to tend the crop 
D) Payments for fertilizer and pesticides 
E) None of the above (they all go into the calculation of implicit costs)

Question 13

Job training programs,remedial education courses,and recreational activities might lead to reduced crime rates in depressed areas by

Accepted Answer

A) Providing jobs to instructors and counselors 
B) Increasing the opportunity costs of committing crimes 
C) Improving the public's view of their community 
D) Providing psychic income to organizers 
E) None of the above 
A) Providing jobs to instructors and counselors 
B) Increasing the opportunity costs of committing crimes 
C) Improving the public's view of their community 
D) Providing psychic income to organizers 
E) None of the above

Question 14

Immunization for polio is an example of a(n)

Accepted Answer

A) Semi private good 
B) Public good 
C) Private good 
D) Good which the market will efficiently produce 
E) Externality in production 
A) Semi private good 
B) Public good 
C) Private good 
D) Good which the market will efficiently produce 
E) Externality in production

Question 15

People are more likely to commit crimes if they perceive the probability of getting caught is low.

Accepted Answer

A) True 
 B)False

Question 16

Crime prevention activities should,if effective,raise GDP above the level that it would be in their absencE.

Accepted Answer

A) True 
 B)False

Question 17

If society receives no additional benefit from increasing crime prevention activities,the MSB of crime prevention

Accepted Answer

A) Equals 0 
B) Is increasing 
C) Is decreasing 
D) Is equal to the MSC of crime prevention 
E) Must rise in the long run. 
A) Equals 0 
B) Is increasing 
C) Is decreasing 
D) Is equal to the MSC of crime prevention 
E) Must rise in the long run.

Question 18

Which of the following increases the chances that a person will engage in criminal activity?

Accepted Answer

A) A high perceived probability of getting caught 
B) A low potential pay-off from the crime 
C) The ability to restrain emotions 
D) A low opportunity cost 
E) None of the above 
A) A high perceived probability of getting caught 
B) A low potential pay-off from the crime 
C) The ability to restrain emotions 
D) A low opportunity cost 
E) None of the above

Question 19

A polio vaccine is an example of a good that is semi-privatE.

Accepted Answer

A) True 
 B)False

Question 20

Laws prohibiting abortions rest on moral grounds rather than economic grounds.

Accepted Answer

A) True 
 B)False

If a law is passed making it illegal for unlicensed barbers to cut hair,which of the following will result?

The legalization of marijuana would be unlikely to greatly increase the demand for the gooD.

The free-rider problem occurs when people cannot be excluded from the benefits of a public good even though they do not help pay for production of it.

Which of the following could explain why criminals commit crimes that are punished by the death penalty?

The demand for abortions would fall significantly if the service were made illegal.

The economic effects of prohibition of alcoholic beverages include a decrease in supply,an increase in price,and a decrease in quality.

Government can effectively remedy the free-rider problem by taxing all who receive benefits of a public gooD.

More criminal justice expenditures should be made for detection and apprehension of criminals.

Current reports on crime are concerned solely with the number of crimes committed and not with dollar estimates of their cost.

The most likely economic effects of the legalization of marijuana are

Which of the following goods or services is a public good?

Which of the following DOES NOT go into the calculation of the implicit cost of a marijuana growing operation?

Job training programs,remedial education courses,and recreational activities might lead to reduced crime rates in depressed areas by

Immunization for polio is an example of a(n)

People are more likely to commit crimes if they perceive the probability of getting caught is low.

Crime prevention activities should,if effective,raise GDP above the level that it would be in their absencE.

If society receives no additional benefit from increasing crime prevention activities,the MSB of crime prevention

Which of the following increases the chances that a person will engage in criminal activity?

A polio vaccine is an example of a good that is semi-privatE.

Laws prohibiting abortions rest on moral grounds rather than economic grounds.

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

If a law is passed making it illegal for unlicensed barbers to cut hair,which of the following will result?

The legalization of marijuana would be unlikely to greatly increase the demand for the gooD.

The free-rider problem occurs when people cannot be excluded from the benefits of a public good even though they do not help pay for production of it.

Which of the following could explain why criminals commit crimes that are punished by the death penalty?

The demand for abortions would fall significantly if the service were made illegal.

The economic effects of prohibition of alcoholic beverages include a decrease in supply,an increase in price,and a decrease in quality.

Government can effectively remedy the free-rider problem by taxing all who receive benefits of a public gooD.

More criminal justice expenditures should be made for detection and apprehension of criminals.

Current reports on crime are concerned solely with the number of crimes committed and not with dollar estimates of their cost.

The most likely economic effects of the legalization of marijuana are

Which of the following goods or services is a public good?

Which of the following DOES NOT go into the calculation of the implicit cost of a marijuana growing operation?

Job training programs,remedial education courses,and recreational activities might lead to reduced crime rates in depressed areas by

Immunization for polio is an example of a(n)

People are more likely to commit crimes if they perceive the probability of getting caught is low.

Crime prevention activities should,if effective,raise GDP above the level that it would be in their absencE.

If society receives no additional benefit from increasing crime prevention activities,the MSB of crime prevention

Which of the following increases the chances that a person will engage in criminal activity?

A polio vaccine is an example of a good that is semi-privatE.

Laws prohibiting abortions rest on moral grounds rather than economic grounds.

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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