A legislated tax on polluters based on the units of pollutant emitted
What will be an ideal response?
will reduce the pollution coming from those who find the tax more costly than pollution reduction.
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Jacob pays $5,000 to paint his house because pollution from a nearby factory damaged the paint. To the factory, the $5,000 cost is
A) a private cost and not an external cost. B) an external cost and not a private cost. C) both a private cost and an external cost. D) neither a private cost nor an external cost. E) a private benefit because viewers will benefit from watching the extra hour of the show.
You paid $35 for a ticket (which is non-refundable) to see SPAM, a local rock band, in concert on Saturday. Assume that $35 is the most you would have been willing to pay for a ticket. Your boss called, and she is looking for someone to cover a shift on Saturday at the same time as the concert. You would have to work 4 hours and she would pay you $11/hr. The psychic cost to you of working is $2/hr. What is your opportunity cost of going to work on Saturday?
A. $0 B. $9 C. $36 D. $35
Suppose the price of gold is $300 per ounce in the United States and 2,400 pesos per ounce in Mexico. If purchasing power parity holds and if the price of oil is 200 pesos per barrel in Mexico, the price of oil is ________ per barrel in the United States.
A. $80 B. $25 C. $36 D. $1,600
The empirical data indicate that the tax system and the transfer programs of the government:
A. Increase the degree of inequality in the distribution of income B. Make no change in the degree of inequality in the distribution of income C. Reduce the degree of inequality in the distribution of income D. Affect the distribution of wealth, not income