Relating to the Economics in Practice on Page 338: a Number

question 175

Multiple Choice

Relating to the Economics in Practice on page 338: A number of companies are using their own internal carbon taxes to reflect the social cost of carbon emissions on the environment. The price per ton of carbon emissions that they are using

• A) has been set by the government.
• B) has been agreed to by the private sector.
• C) is not standardized.
• D) is the price established by the EPA.

---

Definitions:

Popular Sovereignty

The concept that a state and its government's power is established and maintained by the approval of its citizens, via their chosen representatives.

Slavery Abolition

The movement towards and the process of formally ending the legal practice of slavery and human enslavement in various parts of the world.

Tariff of Abominations

The nickname given to the Tariff of 1828 in the United States, which imposed high duties on imports and sparked significant controversy, especially in the South.

Nullification Crisis

A political confrontation in the early 1830s between the state of South Carolina and the Federal government over the latter's right to impose tariffs.