Answer the following statement(s) true (T) or false (F)
1. The Maximum Contaminant Level (MCL) is to be set as close to the Maximum Contaminant Level Goal (MCLG) as possible.
2. An established reference dose (RfD) is defined as the amount of a contaminant to which people can be exposed over a 24-hour period without harm.
3. U.S. primary drinking water regulations are performance-based standards.
4. Secondary maximum contaminant levels (SMCLs) are enforceable drinking water standards that are set to protect public welfare.
5. A drinking water standard based on benefit-cost analysis would be set at the point where the TSB is maximized.
1. True
2. False
3. True
4. False
5. False
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Refer to the figure above. What is the absolute value of the arc elasticity of demand when the price increases from $6 to $8?
A) 1.25 B) 2.75 C) 3.45 D) 4.00
The present discounted value of a future payment will increase when the
A. Risk of nonpayment increases. B. Future payment is moved further into the future. C. Opportunity cost of money increases. D. Interest rate decreases.
The Reciprocal Trade Agreements Act:
A. exempted American exporters from the Sherman Antitrust Act. B. provided technological assistance to developing countries. C. brought about considerable reductions in American trade barriers. D. eliminated American subsidies to agricultural exports.
There is some debate about whether secondary benefits should be considered when assessing public policy proposals. Identify two reasons why secondary benefits might be excluded from a benefit-cost analysis of proposed environmental policy.
What will be an ideal response?