Which of the Following Is a Way to Address an Externality

question 332

Multiple Choice

Which of the following is a way to address an externality problem?

• A)command and control solution
• B)corrective tax
• C)corrective subsidy
• D)all of the above.

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Definitions:

Institutionalized Power

Power that is established, maintained, and recognized by societal norms and institutions, often embedded in laws, traditions, and organizational structures.

Legitimate Power

Authority that is recognized and accepted by others within an organizational or societal structure, often based on a person's role or position.

Public Opinion

The distribution of views, beliefs, or sentiments held by the general population regarding issues, policies, or actions.

New Democracy

The term "New Democracy" typically refers to a conceptual political framework, often associated with Mao Zedong's theories in China, aimed at transitioning from feudalism to socialism through a coalition government led by the proletariat but including other classes.