Alcatraz Was Closed Because

question 51

Multiple Choice

Alcatraz was closed because:

• A)it was based on the dispersal model.
• B)it symbolized an advanced penal philosophy.
• C)it was judged as an expensive failure.
• D)it espoused rehabilitation as the goal of incarceration.

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Definitions:

Contract Curve

In an Edgeworth Box diagram, the curve that represents all the Pareto efficient allocations between two consumers.

Pareto Optimal

A situation of distribution where improving the condition of any individual necessitates the detriment of at least another individual.

Competitive Equilibrium

A state in a market-based economy where supply equals demand, meaning all buyers and sellers are satisfied at the current price level and quantity of goods.

Feasible Allocation

is a concept in economics that refers to the division of resources or goods among various uses or people in a way that is possible given the resources available.