A. Relieving Overcrowding by Building More Prisons

question 66

Short Answer

a. Relieving overcrowding by building more prisons
b. Strains staff morale
c. Cheaper than prison
d. Doing nothing about prison overcrowding
e. Incarceration rate above historical norms
f. African Americans/Hispanics
g. Higher prison populations as a whole
h. Average U.S. incarceration rate from 2000 to 2007
i. One of the causes of the current high incarceration rates
-Overcrowding

Understand the relationship between demand elasticity and expenditure on items, including luxuries versus necessities.

Understand the concept of cross-price elasticity of demand and how it influences consumer choices.

Comprehend the impact of income changes on demand elasticity for different products.

Interpret the significance of income elasticity of demand for various goods.

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Definitions:

Excess Plant Capacity

A situation where a company's production facilities have more production capabilities than currently needed for its level of production.

Stockholders' Approval

The formal consent given by shareholders, often required for significant company actions like mergers, acquisitions, or changes in corporate structure.

Organizational Structure

The way in which a company or organization is arranged, including its hierarchy, departmentalization, and roles.

External Auditor

An independent, outside auditor who examines a company's financial statements for accuracy and compliance with accounting standards.