QUESTION 26 A carbon tax would be an efficient method of addressing the problem

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QUESTION 26 A carbon tax would be an efficient method of addressing the problem of global warming because a. it eliminates the positive externalities associated with global warming. bit forces firms to internalize the external cost of emissions. O c. carbon taxes are an external cost. O d. it is less likely than the cap-and-trade policy to result in rising prices. O e. fims are likely to prefer the carbon tax over the cap-and-trade policy QUESTION 27 An increase in the labor force would be reflected in a society's production possibilities frontier (PPF) by an O a increase in opportunity cost b. outward rotation along the x axis. O c. outward rotation along the y axis. O d. inward shift of the PPF e, outward shift of the PPE QUESTION 28 Of the five factors that lead to income inequality, over which one does an individual actually have direct control? O a training and education O b. widespread corruption O c, ability O d. privilaged background O e discrimination QUESTION 29 At very low tax rates is much larger than O a. willingness to pay; deadweight loss O b. supply; demand O demand; supply O d. tax revenue; deadweight loss Oe. tax revenue; willingness to sel

Explanation / Answer

Answer.)

Q26.) b.) It forces firms to internalize the external costs of emission.

Q27.) e.) Outward shift of the PPC.

Q28.) a.) Training and education

Q29.) d.) Tax revenue, dead weight loss

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