Which of the following is an example of the command approach to regulation?
a. The sale of tradable permits to emit sulfur dioxide in the Chicago Mercantile Exchange
b. Enforcing private property rights and private ownership of elephants in Africa
c. Zoning in many areas that restricts the types of buildings that can be built
d. The government providing subsidies for public education
e. A Pigouvian tax
c
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If the U.S. interest rate rises relative to the interest rate in other countries, then the supply of dollars ________ and the demand for dollars ________
A) does not change; does not change B) decreases; increases C) decreases; decreases D) increases; decreases E) increases; increases
It is not likely that the costly special-interest farm price supports will be replaced by more efficient direct transfer payments because
a. farming would cease b. such a proposal would attract public attention and threaten the survival of the program c. the private gains from price supports exceed the costs to society d. a direct transfer program would require too much paperwork e. consumers favor the current legislation
Government often finds it difficult to cope with externalities because
A. costs and benefits are difficult to assess in monetary terms. B. taxes and subsidies are ineffective in equating MSC and MSB. C. government has no authority to impose fines for air and water pollution. D. marginal private cost curves cannot be shifted.
When Argentines increase their savings in U.S. dollars, the U.S. money:
A. supply curve shifts left. B. demand curve shifts right. C. demand curve shifts left. D. supply curve shifts right.