Prisons in the U.S. Cost Taxpayers _____ Annually

question 45

Multiple Choice

Prisons in the U.S. cost taxpayers _____ annually.

• A) $500 million
• B) $40 billion
• C) $10 billion
• D) $ 750 million

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Definitions:

Income

Funds acquired regularly as earnings from employment or investment returns.

Substitution Effect

The change in consumption patterns due to a change in relative prices, holding the consumer's utility level constant.

Income Effect

The change in an individual's consumption choices resulting from a change in real income, due to changes in price.

Optimal Consumption Bundle

The mix of products and services that optimizes a buyer's satisfaction within their spending limit.