Based on Map 16

question 17

Multiple Choice

Based on Map 16.1, The New South, 1900, which of the following states enjoyed the most diverse resource base to attract industry?

• A) Florida
• B) Louisiana
• C) Mississippi
• D) Alabama

Recognize the social costs associated with pollution as part of negative externalities.

Understand the concept of technology spillover and its classification as an externality.

Distinguish between command-and-control and market-based policies for correcting externalities.

Understand the implications of corrective taxes and subsidies on economic efficiency and government revenue.

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Definitions:

Pragmatists

Individuals who approach problems and decisions based on practical considerations, often focusing on the consequences and practical effects rather than theoretical principles.

Golden Rule

A moral or ethical guideline suggesting that one should treat others as one would like others to treat oneself.

Evidence

Information or proof presented to support or refute a claim, argument, or hypothesis in various contexts, including law, science, and everyday decision making.

Profit-Maximizing Climate

An environment in business operations where the primary focus is on increasing profits to the highest possible level.