Which of the following statements is false? An economic analysis of carbon taxes can:

A. predict the effect on unemployment in West Virginia coal mining communities.
B. conclude that such taxes should be imposed to benefit future generations.
C. present a trade-off of the costs and benefits of different levels of carbon taxes.
D. calculate the increase in costs faced by coal-using industries.
compare the likely reductions in medical expenditures on diseases caused by smog.

B. conclude that such taxes should be imposed to benefit future generations.

Economics

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The National Restaurant Association states that the restaurant industry has an economic effect of more than $1.7 trillion annually in the United States,

with every dollar spent in restaurants generating an estimated total of $2.05 in spending in the economy. This indicates that the spending multiplier for the restaurant industry is equal to A) 1.21. B) 1.70. C) 2.05. D) 4.25.

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Economics

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Exhibit 30-1

?

A. Curve X, because if there is a negative externality, external costs are associated with it: social costs = external costs + private costs, therefore the marginal social cost curve must lie above the marginal private cost curve. B. Curve Y, because if there is a negative externality, negative external costs are associated with it: social costs = negative external costs + private costs, therefore the marginal social cost curve must lie below the marginal private cost curve. C. Curve X, because if there is a negative externality, external benefits are associated with it: social costs = external benefits + private costs, therefore the marginal social cost curve must lie above the marginal private cost curve. D. Curve Y, because if there is a negative externality, negative external benefits are associated with it: social costs = negative external benefits + private costs, therefore the marginal social cost curve must lie below the marginal private cost curve.

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Economics