Most Economists Prefer Corrective Taxes to Regulation to Correct the Pollution

question 133

Multiple Choice

Most economists prefer corrective taxes to regulation to correct the pollution problem because:

• A) the market-based solution is less costly to society.
• B) the market-based solution can result in a greater reduction in pollution.
• C) the market-based solution raises revenue for the government.
• D) all of the above.

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Definitions:

Courts

The institutions designated to administer justice through the interpretation and application of the law.

Legislatures

Elected or appointed bodies of government responsible for making, amending, or repealing laws within a political system or jurisdiction.

Legal Regimes

Systems of laws and legal principles governing a specific area of legislation, often associated with a particular governmental context.

Common Law

A body of unwritten laws based on legal precedents established by the courts, influencing the decision-making in novel cases where the outcome cannot be determined based on existing statutes or written rules of law.