Between 2011 and 2012 the Gang Crime Rate in Los

question 26

Multiple Choice

Between 2011 and 2012 the gang crime rate in Los Angeles fell by more than 10%.The mayor attributed this drop in crime to:

• A)Stricter gun controls.
• B)Stricter enforcement of immigration laws.
• C)Adding hundreds more police officers to the force.
• D)More public involvement.

Understand the concept of signaling and screening in mitigating information asymmetry.

Comprehend the impact of systematic biases and heuristics on decision-making and policy.

Apply knowledge of voting paradoxes and strategic voting to real-world scenarios.

Evaluate the efficacy of various solutions to principal-agent problems, including monitoring and contract design.

---

Definitions:

Efficient Allocation

The distribution of resources in a way that maximizes the net benefits to society or the economy.

Efficiency

A measure of how well resources are used to achieve a goal, minimizing waste.

Incentives

Financial or non-financial rewards offered to encourage specific behaviors or actions among individuals or organizations.

Trade

The exchange of goods or services between parties in return for other goods, services, or money.