For Punishment to Work (I

question 59

Multiple Choice

For punishment to work (i.e., to weaken the frequency of undesirable behaviors without creating a backlash) , the punishment must be strong enough to stop the undesired behavior and must be administered___________ .

• A) subjectively
• B) physiologically
• C) consistently, contingently, and quickly
• D) through need deprivation
• E) at variable intervals

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Definitions:

Diminishing Utility

A principle in economics that as consumption of a good or service increases, the marginal utility derived from each additional unit decreases.

Fed

Short for the Federal Reserve, which is the central banking system of the United States, responsible for monetary policy.

Externalities

Costs or benefits that affect parties who did not choose to incur that cost or benefit, often leading to market failure if unaddressed.

Moral Hazard

A situation in which one party engages in risky behavior or lacks incentive to guard against risk because another party bears the consequences.