Which of the following provides an example of command-and-control regulation?
A. ?Taxing producers based on the external costs created by their pollution, thus internalizing external costs.
B. ? Requiring firms to reduce their pollution by 50 percent, thus allowing them to emit 50 percent of their historical emissions, and allowing them to freely buy and sell allowances.
C. ?Requiring firms to use a particular type of pollution-control technology, such as smokestack scrubbers or catalytic converters.
D. ?Subsidizing firms that exceed their pollution-control targets.?
Answer: C
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What type of economic conditions are summarized by the variable a?
A) conditions other than changes in capital and labor that change productivity B) urbanization C) governmental regulations D) All of the above
Wages in most other countries have increased as a percentage of U.S. wages in the past 33 years
a. True b. False Indicate whether the statement is true or false
Assuming labor is the only variable factor of production, production of a good will occur
A. as long as the product's price is greater than the marginal revenue product of labor. B. as long as the marginal revenue product of labor is positive. C. if society values a good more than it costs firms to hire the workers to produce the good. D. if the marginal cost of a unit of output equals the marginal revenue product of labor.
Maximum checkable-deposit expansion in the banking system is equal to:
A. Actual reserves minus required reserves B. Assets plus net worth and liabilities C. Excess reserves times the monetary multiplier D. Excess reserves divided by the monetary multiplier