Briefly explain the command-and-control approach in dealing with an externality such as pollution. Give an example of the U.S. government using the command-and-control approach to deal with the pollution problem
What will be an ideal response?
Command-and-control is an approach that involves the government imposing quantitative limits on the amount of pollution firms are allowed to emit or requiring firms to install specific pollution control devices. One example listed in the text ocurred in 1983, when the federal government required auto manufacturers to install catalytic converters to reduce auto emissions on all new automobiles.
You might also like to view...
The Second Bank of the United States was deemed unconstitutional and, therefore, its charter was not renewed
Indicate whether the statement is true or false
Refer to Figure e. Brandon and Allie want to go on a date one summer evening. Allie is a Red Sox fan, while Brandon is a Mets fan. Both teams are playing that evening, but not against each other. Each would rather watch their favorite team, but neither can force the other to watch a particular game, and each is willing to suffer through the other's game if it means time together. If Brandon watches the Mets, what is Allie's best response?
A. Allie should watch the Red Sox.
B. Allie should watch the Mets.
C. It does not matter which Allie watches; she is indifferent between the Red Sox and the Mets.
D. Allie should not consider Brandon's choice when making her decision.
Wastes impose costs upon the community if they are
a. solid. b. liquid. c. gaseous. d. any of the above.
A firm's demand for labor is
A. its MRP schedule. B. determined by the going wage rate. C. shaped mainly by the supply of labor.