Which of the following is an example of the U.S. government's use of a "command-and-control" approach to reducing pollution?
A) In 1990 Congress approved measures designed to reduce sulfur dioxide emissions to 8.5 million tons annually by 2010.
B) The government issued electric utilities tradable emission allowances in order to reduce emissions of nitrogen oxide.
C) In the 1980s the U.S. government required the installation of catalytic converters to reduce emissions from all new automobiles.
D) The U.S. government imposed a tax on electric utilities to reduce damages from acid rain.
C
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Who believes that marginal analysis provides the best model of a firm's behavior?
a. William Baumol b. John K. Galbraith c. Milton Friedman d. Richard Lester e. Lester Thurow
If a 10 percent rise in price leads to a reduction in quantity demanded of more than 10 percent,
a. demand is elastic. b. demand is inelastic. c. elasticity of demand is unitary. d. None of the above is correct.
In comparison to the U.S., Germany has a relatively low percentage of union membership
a. True b. False Indicate whether the statement is true or false
The standard deviation is generally more useful than the variance because:
A. variance is a measure of risk, where standard deviation is a measure of return. B. it can measure unquantifiable risk. C. it is easier to calculate. D. standard deviation is calculated in the same units as payoffs and variance isn't.