Which of the Following Are Less Serious Crimes Punishable by Fines

question 21

Multiple Choice

Which of the following are less serious crimes punishable by fines or imprisonment of less than one year?

• A) Misdemeanor.
• B) Felony.
• C) Petty offenses.
• D) Tort offenses.
• E) Any business related crime.

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Definitions:

APC

Average Propensity to Consume, which is the fraction of income that is consumed rather than saved.

MPS

The marginal propensity to save refers to the portion of each additional dollar of income that is set aside for savings instead of being spent.

Induced Consumption

Consumer spending that increases when income increases and decreases when income decreases.

Autonomous Consumption

Consumer spending that does not change in response to fluctuations in income, reflecting basic, non-discretionary expenditures.