What Is the Practice That Permitted Convicted Offenders to Remain

question 28

Multiple Choice

What is the practice that permitted convicted offenders to remain free if they agreed to take care of their debt obligation with the state?

• A)banishment
• B)judicial reprieve
• C)probation
• D)recognizance

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Definitions:

Economic Profit

The difference between total revenue and the total opportunity costs (both explicit and implicit) of all resources used.

Productive Efficiency

A situation where goods and services are produced at the lowest possible cost and resources are utilized most effectively.

Allocative Efficiency

A state of resource allocation where goods and services are distributed according to consumer preferences and in a way that maximizes social welfare.

Marginal Cost

The uptick in cost associated with producing an extra unit of a product or service.