Chapter 28 – The Economics of Crime
45. The present value analysis of the death penalty
A) compares the present value of a human life with the present value of adjudication and
execution costs.
B) compares the present value of a human life with the present value of the cost of lifelong
incarceration.
C) compares the present value of adjudication and execution costs with the present value of
the cost of holding them in prison for life.
D) considers exclusively the probability of executing innocent people.
46. The present value analysis of the death penalty
A) shows that the death penalty is quite cost effective in its punishment and economists,
almost universally, embrace it for that reason.
B) shows that the death penalty is quite cost effective in its punishment though for a variety
of reasons economists are split on the wisdom of the policy.
C) shows that the death penalty is not cost effective in its punishment and economists,
almost universally reject it for that reason.
D) shows that the death penalty is not cost effective in its punishment though for a variety of
reasons economists are split on the wisdom of the policy.
47. The optimal level of crime control is achieved where
A) the marginal reduction in the expected cost of crime equals the marginal cost of
prevention.
B) the average reduction in the expected cost of crime equals the average cost of prevention.
C) the total reduction in the expected cost of crime equals the total cost of prevention.
D) the police officers’ association is satisfied.
48. Suppose you are a mayor of a city with a police force of 100 and an annual budget of $8
million. Now suppose your police chief asks for an additional officer with an additional
annual expenditure of $50,000 for salary, benefits and equipment. If you are thinking like an
economist, you will agree to the request if the chief can demonstrate that
A) crime will be reduced.
B) the total amount spent on police protection is worth $8,050,000.
C) the average amount of safety produced per officer is more than $50,000.
D) the additional officer will produce at least $50,000 worth of extra safety annually.