Economic theory suggests that gun buyback programs:
A) are effective in reducing the number of guns on city streets.
B) do not reduce the number of guns on city streets.
C) are most effective if the supply curve of guns is perfectly elastic.
D) reduce the demand for new and better-functioning guns.

Question

Quizplus · Accepted Answer

Gun buyback programs do not reduce the number of guns on city streets because they are not effective in reaching those who are most likely to commit crimes with firearms. Additionally, some individuals may use the money they receive from the buyback program to purchase new guns, resulting in a neutral or even negative impact on the overall number of guns in circulation. Economic theory suggests that for a program to effectively reduce the number of guns on the streets, the supply curve of guns would need to be perfectly inelastic, meaning that the quantity supplied would not change in response to price changes.

Economic Theory Suggests That Gun Buyback Programs