According to the FBI Uniform Crime Report, the Robbery Rate

question 20

Multiple Choice

According to the FBI Uniform Crime Report, the robbery rate in the United States is 202 per 100,000 people. At that rate, how many robberies would there be in a state the size of Indiana (5.8 million people) ?

• A) About 1200
• B) About 12,000
• C) About 120,000
• D) About 1,200,000
• E) Impossible to say

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Definitions:

Consumption

Refers to the use of goods and services by households.

Utils

An imaginary unit of measurement used in economics to represent the satisfaction or utility received from consuming goods and services.

Marginal Utility

An additional amount of satisfaction gained from consuming an extra unit of a good, highlighting the concept of diminishing returns.

Total Utility

The total satisfaction received from consuming a certain amount of goods or services.