The London Convention 1972 and the 1996 Protocol are aimed at the problem of

A general sales tax comes close to _____

a. meeting the budget needs of state governments b. approximating a consumption tax c. approximating an income tax d. a perfectly regressive tax

If the MSB/MCA graph indicates that an emissions fee of $10 per unit would lead to the optimum level of emissions, but the government set a fee of $5 per unit, emissions would

A) not be reduced at all. B) not occur at all. C) be above the optimum level, but curtailed somewhat from what they would have been with no fee at all. D) be above the optimum level by 50%. E) be below the optimum level by 50%.