Which Is NOT a Main Instrument of the Chicago Convention

question 3

Multiple Choice

Which is NOT a main instrument of the Chicago Convention?

• A) The Convention on International Civil Aviation
• B) The International Air Services Transit Agreement
• C) Draft of the 19 Technical Annexes
• D) A Standard Form of Bilateral Agreement
• E) These are all main instruments of the Chicago Convention

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Definitions:

Pollution Permits

Tradable permits issued by governments that allow the holder to emit a certain amount of pollution; used to control and reduce environmental harm.

Corrective Taxes

Taxes designed to internalize externalities, typically by charging for negative externalities to correct market outcomes.

Internalize

The process of incorporating the cost of externalities into the decision-making processes of relevant parties, often through regulation or market-based incentives.

Corrective Taxes

Taxes designed to correct the market outcomes that are not efficient by themselves, usually by discouraging negative externalities.