A Person Has Been Apprehended by the Police for Robbing

question 37

Multiple Choice

A person has been apprehended by the police for robbing a bank.After 3 weeks,the person has a trial for robbing the bank and is convicted.The person is then sentenced to 5 years in jail.How effective will this punishment be in stopping future bank robbing behavior?

• A)Very effective.The person will never rob a bank again.
• B)Somewhat effective.But it will take a greater prison sentence to make the person not rob banks again.
• C)The punishment will have no effect on suppressing bank robbing behavior.
• D)The punisher will actually cause the person to increase their bank robbing behavior when they get out.

Associate changes in the demand and supply of labor with changes in the equilibrium wage and quantity of labor.

Calculate the value of the marginal product of labor and understand its role in employment decisions.

Understand the impact of technological changes on labor demand and labor productivity.

Assess the effects of government policies, such as minimum wage laws, on labor markets and firm decisions.

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Definitions:

Capacity

The ability to incur legal obligations and acquire legal rights.

Offer

A proposal by one person to another that is intended to create legal relations on acceptance by the person to whom it is made.

Void Contract

A contract that has no legal force or effect and cannot be enforced by either party.

Legal Obligations

Duties imposed by law requiring individuals or organizations to comply with legal standards and regulations.