When Government Attempts to Reduce the Global Warming Effects Caused

question 161

Multiple Choice

When government attempts to reduce the global warming effects caused by the burning of fossil fuels such as oil, coal, and natural gas by establishing a minimum level of fuel efficiency on new cars, it is using a(n) :

• A)environmental standard.
• B)emissions tax.
• C)Pigouvian tax.
• D)tradable emissions permit.

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Definitions:

Standardization

The process of implementing and developing technical standards to ensure uniformity and consistency across different products, services, or processes.

Commercial-Grade Equipment

High-quality, durable equipment designed to meet the demands of commercial or professional usage.

Proximity to Markets

The closeness of a business location to its customers, suppliers, and other vital resources, which can impact logistics and efficiency.

Labor Supply

The total hours that workers are willing and able to work at a given wage rate, in a given period.