Economists recommend that crime policy

Assignment Help Business Economics
Reference no: EM131379915

Economists recommend that crime policy have the goal of minimizing the "costs of crime", which include the social costs of the crimes themselves and the social cost of enforcing the criminal law. What is the general rule for determining whether a particular change in criminal justice policy will increase or decrease social efficiency?

Reference no: EM131379915

Questions Cloud

What is the natural rate of unemployment for country : A country with a civilian population of 100,000 (all over age 16) has 80,000 employed and 10,000 unemployed persons. Of the unemployed, 2,000 are frictionally unemployed and another 4,000 are structurally unemployed. What is the size of the labor for..
Argument for maintaining positive rate of inflation : Which of the following is NOT an argument for maintaining a positive rate of inflation? Advocates of taxing consumption rather than income argue that. In a perfectly competitive market, the process of entry and exit will end when firms face
Average total cost curve must be tangent to the demand curve : In class is was claimed that at the wealth maximizing output for a price searcher who is making zero (economic) profits, the Average Total Cost Curve must be tangent to the Demand Curve rather than merely be equal to but bisecting the Demand (either ..
What will the magazine publisher do in the long-run : You are a magazine publisher. You are in the middle of a one-year rental contract for your factory that requires you to pay $400,000 per month, and you have contractual labor obligations of $1 million per month per the labor union agreement. If the e..
Economists recommend that crime policy : Economists recommend that crime policy have the goal of minimizing the "costs of crime", which include the social costs of the crimes themselves and the social cost of enforcing the criminal law. What is the general rule for determining whether a par..
Company is considering new bottle-capping machine : A company is considering a new bottle-capping machine. The initial cost of the machine is 300,000 SR and it has a 20 year life. Yearly maintenance cost is estimated to be 15000 per year. The machine required a major overhaul costing 50000 at the end ..
Assuming the industry is in long-run equilibrium : Suppose there are ten firms in a monopolistically competitive industry, each with an equal share of the market. The market demand is given as Q = 10200 – P.   Each firm has a total cost function TC = 51000 + 500q2. Assuming the industry is in long-ru..
What will be the future value of your investment : Consider a situation in which you invest 7000 SR per year for 7 year in a bank account that has an annual interest rate of 10%. What will be the future value of your investment?
Short and long-run marginal and average cost curves : How will a tax of $5 per unit produced affect the short- and long-run marginal and average cost curves? What about an annual license fee of $500 per year regardless of production level?

Reviews

Write a Review

Business Economics Questions & Answers

  Qthe inverse market demand for mineral water is p200-10q

q.the inverse market demand for mineral water is p200-10q where q is the total market output and p stands for price of

  What is the new level of output and interest rate

Consider a closed economy which can be characterized by the following equations: C = 400 + 0.8YD I = 600 + 0.1y- 1000r G = 300 T = 125 (M/P)d = 0.2Y-6000r (M/P)= 400 a. Solve for the goods market equilibrium and state the equation for the AD and IScu..

  Quantity effect of a specific tax

A regulator plans to impose a specific tax on a previously unregulated monopolist. Before imposing the tax, they want to know what the change in quantity produced will be from such a tax. The proposed specific tax is τ = 10 and the following are the ..

  John paisley is planning to buy a house

John Paisley is planning to buy a house for $100,000 by borrowing money at the rate of 9%.

  Wealth transfer paid for by tax on younger workers

Suppose the elderly as a group manage to lobby Congress successfully for a one-time wealth transfer, “paid for” by a tax on younger workers. Assume the elderly have a remaining life-expectancy of 10 years (over which the transfer will be spread), and..

  What do temporary changes in the tax code

What do temporary changes in the tax code do for incentives? Does this encourage long term planning? Should the government encourage long term planning? Should the Government use tax policy to change behavior?

  National income account-graphing market for loanable funds

Using the National Income Account, and graphing the market for loanable funds, Draw the Demand and Supply curve for loanable funds such that the equilibrium interest rate is 3% and the equilibrium quantity of loanable funds is $10 trillion. Describe ..

  What will be the magnitude of the annual withdrawals

$150,000 is deposited in a fund that pays 5% annual compound interest for 2 years, 3% annual compound interest for 2 years, and 4% annual compound interest for 2 years. If uniform annual withdrawals occur over the 6-year period, what will be the magn..

  Your firm faces considerable revenue uncertainty

Your firm faces considerable revenue uncertainty because you have to negotiate contracts with several customers. You forecast a 20 percent chance that your revenues will be $200,000, a 30 percent chance that your revenues will be $300,000, and a 50 p..

  Reducing the surcharges that banks impose on noncustomers

From California to New York, legislative bodies across the United States are considering eliminating or reducing the surcharges that banks impose on noncustomers, who make $12 million in withdrawals from other banks’ ATM machines. What would be the f..

  Assumption of independence of risks

Why does the assumption of independence of risks matter in the examples of insurance.

  Llustrate the black market for lnternet access

llustrate the black market for lnternet access, comprising the implicit supply schedule.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd