Assignment task: An Economic Model of Criminal Behavior
1) What are some public policies that society might be able to implement if it wants to increase the potential criminal's cost of committing a crime? What impact would this have on the supply of crime?
2) An increase in the price that a motor vehicle thief can obtain from selling a car will always entice the thief to steal more cars. Is this a correct statement?
4) At mid-year 2000 the national unemployment rate was 3.9%, a thirty year low. In 1992, the rate was 7.5%. Based on this what would you expect to be happening to crime nationwide and why? How does this compare to what's actually happened in crime trends?