Examlex
Decide whether each of these statements is True (T) or False
A flywheel has a moment of inertia of 40 kg m2 about its axis and is at rest when a constant torque of 90 N m is applied. After 15 s:
Negative Externality
A negative externality is a cost imposed on a third party not involved in the production or consumption of a good or service, such as pollution.
Positive Externality
A beneficial effect experienced by a third party who did not choose to incur that benefit, often resulting from an individual's or firm's actions.
Corrective Tax
A tax designed to internalize externalities, effectively correcting market outcomes that might otherwise result in social inefficiency.
Command-And-Control Policies
Regulatory strategies where the government sets specific limits and controls on emissions or discharges, often requiring technology or methods to be used.
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