With the Passage of Two Laws in 1970,the Racketeer Influenced

question 20

Multiple Choice

With the passage of two laws in 1970,the Racketeer Influenced and Corrupt Organizations Act (RICO) and the Continuing Criminal Enterprise Act (CCE) ,Congress resurrected _________,which is the government seizure of property.

• A)restitution
• B)forfeiture
• C)fines
• D)repayment

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Definitions:

Accounting Profit

The difference between the total revenue received from sales and the total explicit costs of a business.

Explicit Costs

Direct payments made to others in the course of running a business, such as wages, rent, and materials.

Implicit Costs

The opportunity costs of using resources that a business already owns, representing the potential income lost in employing them in a specific task.

Forgone Income

Income not earned due to choosing an alternative action, such as studying full-time instead of working.