In recent years, the Canadian province of British Columbia has increased its carbon tax. Which of the following statements is correct?
a. Despite the increase in the carbon tax, emissions of greenhouse gases in British Columbia have continued to increase at a rapid rate.
b. Along with the increase in the carbon tax, British Columbia has decreased income-tax rates on individuals and corporations.
c. Few, if any, economists favor carbon taxes such as the one that British Columbia has imposed.
d. All of the above are correct.
b
You might also like to view...
Cyclical unemployment occurs
A) with economic fluctuations; it increases during bad times and decreases during good times. B) because of a mismatch between the jobs that are available in the economy and the skills of workers seeking jobs. C) because the government labels some people who aren't really in the labor force as unemployed. D) naturally during the normal workings of an economy, as people change jobs, move across the country, etc.
In the past the federal government often employed what is called a "command-and-control" approach to the reduction of pollution emissions. Many economists are critical of this approach because
A) they believe a market-based approach will reduce pollution more efficiently. B) it does not lead to significant reductions in pollution. C) the "command-and-control" approach leads to negative externalities. D) the "command-and-control" approach is designed to help firms at the expense of consumers.
The optimal bidding strategy for a second-price auction is
a. To bid your true value b. To shade your bid well below your true value c. To shade your bid just a little below your true value d. To size up your competition to determine how much to shade your bid
The price elasticity of supply is the __________________ change in the quantity supplied of a good or service divided by the percentage change in the price.
a. quantity b. percentage c. relative d. absolute