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In Many Circumstances, Prisoners Are Not Allowed to Possess Cash

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Essay

In many circumstances, prisoners are not allowed to possess cash. Does this mean there is no money in prison? Explain.


Definitions:

Rightward Shift

A movement to the right on a graph, indicating an increase in quantity supplied or demanded at a given price.

Subsidy

Payment reducing the buyer’s price below the seller’s price; i.e., a negative tax.

Labor Market

The labor market is the arena in which employers seek to hire labor and workers seek employment, and where wage rates are determined by supply and demand for labor.

Monopsonist

A market condition where a single buyer substantially controls the market as the major purchaser of goods and services.

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