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:

Union Labor

refers to labor that is represented by a union, which negotiates wages, working conditions, and other employment terms on behalf of its members.

Wage Rate

The amount of money paid to an employee by an employer in exchange for work performed, typically expressed on an hourly, daily, or piecework basis.

Total Productivity

The ratio of total output (goods and services) produced to the total inputs used to obtain that output, measuring efficiency in production.

Union Labor

Workforce that is organized in trade unions which negotiate wages, working conditions, and benefits on their behalf.