Which of the following statements is true?
a. Competitive markets result in the socially efficient price and quantity when externalities exist.
b. Command-and-control regulations set an environmental goal and dictate how the goal will be achieved.
c. Economists prefer command-and-control regulations to incentive-based pollution programs.
d. An effluent tax is a tax imposed on rich people.
b
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Which one of the following pollutant types is most difficult to regulate?
a. A local flow pollutant b. A regional flow pollutant c. A local stock pollutant d. A regional stock pollutant e. A global stock pollutant
The extent of the multiplier effect visible within a short time will be ____ the total effect indicated by the multiplier formula
a. significantly higher than b. equal to c. less than d. slightly higher than