A Governmental Limit on the Amount of Pollution That May

question 55

Multiple Choice

A governmental limit on the amount of pollution that may be emitted is referred to as:

• A)a public good.
• B)an emissions standard.
• C)an emissions fee.
• D)a positive externality.

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Definitions:

Corporate Charter

The legal document that establishes a corporation and outlines its structure, objectives, and the authority to operate, also known as articles of incorporation.

Personal Liability

The legal responsibility of an individual to settle debts or obligations from their own assets.

Voting Trust

An agreement among shareholders to transfer their voting rights to a trustee.

Cumulative Voting

A system of voting for corporate directors that is designed to benefit minority shareholders by allowing shareholders to multiply their voting shares by the number of directors to be elected.