Read the Following Scenario and Answer the Question Below

question 41

Multiple Choice

Read the following scenario and answer the question below.
The Intergovernmental Panel on Climate Change reports that physical, biological, and economic evidence exists confirming global climate change due to human -produced greenhouse gases. Although the United States emits most of Earthʹs carbon dioxide, its policies do not reflect concern over its environmental effects. The United States failed to ratify the Kyoto Protocol, an international agreement signed by other developed nations to reduce carbon dioxide emissions. Requested voluntary reductions of carbon dioxide emissions have not been effective in reducing greenhouse gases. Revisions to the 1970 Clean Air Act, called the ʺClear Skies Initiative,ʺ were proposed to limit mercury, nitric oxides, and sulfur oxide emissions from power plants. Nicknamed by Robert F. Kennedy, Jr., as the ʺClear Lies Initiative,ʺ this proposal did not specifically address emission of carbon dioxide, and its loopholes precluded older power plants from modernizing, seemingly supporting polluting industries with political influence. Environmentalists are arguing for immediate action, including stricter laws to limit power plant carbon dioxide emissions and provide subsidies for renewable energy. They favor ʺportfolio standards,ʺ requiring electric companies to provide clean energy alternatives to consumers and ʺgreen tags,ʺ
ʺwind certificates,ʺ and ʺgreen pricingʺ to support the use of alternative fuels.
-The United States should enact laws slowing global climate change because ______________.

• A) global climate change effects are most significant in the United States
• B) the United States is a major producer of greenhouse gases
• C) the United States is the most populous nation on Earth
• D) U.S. industry supports the legislation
• E) we would be the first nation to initiate efforts to slow global climate change

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Definitions:

Priority Claims

Debts that are given special status and are paid before other debts in a bankruptcy proceeding.

Subordination Agreements

Legal documents that alter the priority of financial claims, making one party's claim rank behind another's in the event of a bankruptcy or liquidation.

Pro Rata

A Latin term that means "in proportion," often used to describe a method of allocating amounts or shares among participants according to their entitlement or contribution.

Chapter 11

A provision under the U.S. Bankruptcy Code that allows businesses to reorganize and restructure their debts while continuing operations.