A tradable emissions permit program is efficient because the cap protects the environment while:
a. generating substantial revenues for the government
b. keeping compliance and administration costs relatively low.
c. while requiring the same response by each polluter.
d. none of above
b
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Use the following statements to answer this question: I. The income-consumption curve for perfect complements is a straight line. II. The price-consumption curve for perfect complements is a straight line
A) I and II are true. B) I is true and II is false. C) II is true and I is false. D) I and II are false.
The basic principles of economics suggest that
a. markets are seldom, if ever, a good way to organize economic activity. b. government should become involved in markets when trade between countries is involved. c. government should become involved in markets when those markets fail to produce efficient or fair outcomes. d. All of the above are correct.