Answered step by step
Verified Expert Solution
Link Copied!

Question

...
1 Approved Answer

1. Victimization rates in central cities are [_] (, =) than victimization rates in suburbs, but the difference is relatively small in the [_] metropolitan

image text in transcribed
image text in transcribed
1. Victimization rates in central cities are [_] (, =) than victimization rates in suburbs, but the difference is relatively small in the [_] metropolitan areas. Among central cities, the lowest victimization rates occur in the [_ metropolitan areas. 2. The expected utility from committing a crime is the weighted average of the utilities from | _] and [_ _] with the weights equal to the [_] and the _1. 3. Suppose the utility function is u(w) = wh and the expected utility from crime is 7 utils. The certainty equivalent of crime is $[ 4. The certainty equivalent of crime decreases as a result of an [__] [ 1, 4.-] in the crime penalty or a [__] [1, 4,-] in the probability of successful crime. 5. Crime is a rational choice if the [_] of crime exceeds the [_ 6. Compared to a college graduate, a high-school graduate is roughly [_ (choose 2, 5, 6, 13) times more likely to be incarcerated. 7. Recent advances in neuroscience suggest that humans are subject to varying de- grees of [_] bias, and the bias tends to [__] [1, 4, -] criminal activity. 8. Investment in human capital [_] [1. 4,-] crime rates by increasing | 9. The elasticity of crime with respect to the probability of imprisonment is -L _I (choose 0.05, 0.10, 0.3, or 3.0). 10. The U.S. incarceration rate is roughly [_ ] (choose 0.50. 2. 3, or 7) times the median incarceration rate of OECD countries. 11. The prison system decreases crime rates through (i) [_]. (ii) [_], and 12. Increasing the prison time for crime has a relatively [_| effect on crime, and the deterrent effect is subject to [_ 13. Several factors play a role in the diminishing returns to the length of prison sen- tences: (i) |_]. (ii) [_]. (iii) [_]. and (iv) [_ 14. The elasticity of crime with respect to wages is between -[_] 8 and -[ 15. For motor-vehicle theft, the elasticity of arrest rates with respect to high-school graduation rates is -[_] (choose 0, 0.10, 1.3. 3.0). 16. Getting a student from dropout status to graduation status has a one-time cost of roughly $L _] and an annual benefit to society of roughly $[ _] in lower crime cost. 17. For the efficient amount of crime control. [_] equals [_ 18. For a Nash equilibrium in the model of occupational choice, the payoffs of the alternative occupations are |_1. 19. An increase in the burglary penalty [_] (1. 4.-] the number of burglars, _][1. 4,-] the number of robbers, and [_] [1, !,-] the number of lawfully employed workers. 20. It is possible that an increase in the burglary penalty will increase the social cost of crime because the social cost of [_ exceeds the social cost of [_

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Managerial Accounting

Authors: Ray Garrison, Eric Noreen, Peter Brewer

16th edition

978-1259307416

Students also viewed these Economics questions