When comparing two alternatives X and Y, a consumer either prefers X to Y, prefers Y to X, or is indifferent between them. This property is called:…October 6, 2020
The rate of economic growth per capita in France from 1996 to 2000 was 1.9% per year, while in Korea over the same period it was 4.October 6, 2020
This assignment has 5 parts.There are unintended side effects of some market activities. In these cases, the market price does not reflect all relevant costs and benefits. We call these instances externalities. Pollution is one example of an externality. Please use the following questions to describe an instance where you, an acquaintance, or family member has experienced an externality.
- How did it affect you (or your acquaintance or family member?) Please explain.
- What were the effects? Please explain.
- Did you (or your acquaintance or family member) experience decreased health or quality of life? Please explain.
- Suppose that you (or your acquaintance or family member) work at a business that does pollute. Do you think that the pollution should be cut back? Explain
- Based on your own experience and what you have learned in Unit 4, what is the best way to control pollution?
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From the list below, please choose a particular environmental policy that is being used in the United States. Write a 4–5-page paper (including the title page and reference list), that accomplishes all of the following:
- Explains the policy
- Gives an example where it has been used
- Explains why it is has improved the problem it was meant to correct
- Explains how economic principles are used in the design of the policy
- Carbon tax
- Cap and trade
- Emissions taxes
- Environmental standards (command and control)
- Subsidies for firms that invest in clean technologies
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