What Has Been the Result of Passage of the Toxic

question 2

Multiple Choice

What has been the result of passage of the Toxic Substances Control Act (TSCA) of 1976?

• A) A mandate for corporations to disclose known toxic chemicals
• B) A requirement that all manufactured chemicals undergo toxicity testing
• C) Authorization of the EPA to require testing and reporting of some chemicals
• D) Development of a mechanism to report reactions to toxic chemicals

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Definitions:

Cross Elasticity

A measure of how the demand for one good responds to a change in the price of another good.

Normal Good

A good for which demand increases as the income of consumers increases, and falls when consumer income decreases.

Quantity Demanded

The total amount of a good or service that consumers are willing and able to purchase at a given price in a specified time period.

Income Elasticity

A measure that quantifies the responsiveness of the demand for a good or service to a change in income of the people demanding the good.