Which of the following is not true with regard to pollution control through transferable pollution rights?
a. It does not require the government to know in advance the pollution abatement techniques to be utilized.
b. It creates an incentive to develop improved pollution abatement technologies
c. It ultimately requires all firms to reduce pollution in equal amounts.
d. It established private property rights that can be sold.
c
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The President first began submitting a budget to Congress in 1931, during the Great Depression
a. True b. False
Consider a market with just one firm. The demand in the market is p = 18 – Q and the firm has a linear cost function C(Q) = 2Q
a. How much output will this firm produce. What will be the profit and consumers surplus? b. Suppose a second firm with the same cost function enters the market and the two firms compete in a Cournot style (simultaneous output choice). What will be the equilibrium price and quantity in the market? What is the total market profit and CS?
According to the capture hypothesis
A) regulators eventually support the views of consumers instead of the firms or the taxpayers, regardless of the reasons why the regulatory agency was established. B) regulators support the view of the regulated firms all along because that is the reason the regulatory agency was established. C) regulators eventually support the views of the regulated firms instead of the consumers or taxpayers, regardless of why the regulatory agency was established. D) regulators eventually support the views of either the firms or the consumers, but at the expense of the taxpayers, regardless of the reasons why the regulatory agency was established.
Which of the following will most likely accompany an unanticipated increase in aggregate demand?
a. an increase in real output b. an increase in unemployment c. a decrease in real GDP d. a decrease in the demand for resources