Which of the following is a problem that occurs with command-and-control policies?

A) lead to increased pollution

B) decrease the firm's incentives to develop more efficient abatement technologies

C) An abatement technology that is efficient for one firm may be inefficient for others.

D) decrease the firm's incentives to develop more efficient abatement technologies and An abatement technology that is efficient for one firm may be inefficient for others are correct.

 

. One advantage of pollution permits over pollution taxes is:

A) pollution permits allow firms to choose their profit-maximizing level of pollution while taxes do not.

B) pollution permits generate more revenue for the government than do pollution taxes.

C) the government can set a maximum level of pollution using pollution permits.

D) None of these.

 

Tradable pollution permits:

A) will be sold by firms that have relatively low abatement costs.

B) reduce the level of pollution to zero.

C) are likely to lead to a higher total level of pollution in an area.

D) cause each firm to reduce the level of pollution it generates by the same amount.

 

. A company earns $70,000 in profit if it is allowed to dump untreated waste in the river and only $40,000 in profit if it is forced to treat the waste before dumping it into the river. The local fishermen earn $35,000 in profit if the river is polluted and $55,000 in profit if the river is not polluted. The fishermen would be willing to pay the company up to ________ not to pollute the river, and the company would be willing to accept a minimum of ________ if it agrees not to pollute the river.

A) $15,000; $30,000

B) $20,000; $30,000

C) $30,000; $20,000

D) $20,000; $5,000

17. Which of the following is an external cost generated by the use of automobiles?

A) Congested highways impose a time cost on travelers.

B) motor-vehicle accidents

C) air pollutants

D) All of these

 

. Which of the following is the regulation that the U.S. currently use to regulate automobile pollution?

A) uniform abatement

B) diagnosis and treatment

C) command and control

D) marketable pollution permits

 

. If a pollution tax is imposed on automobiles, we could expect which of the following to occur?

A) less maintenance of emissions equipment

B) more use of alternative transportation

C) more miles being driven

D) all of these

 

. The annual cost of collisions in the U.S. is approximately $300 billion. On average, the driver who causes an accident incurs about ________ of the costs, leaving the rest as an external cost imposed on others.

A) one-third

B) one-fourth

C) two-thirds

D) one-half

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