Preview Quiz Chapter 12__ ECON-2302-010

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Palo Alto College *

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2302

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Economics

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Feb 20, 2024

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11/9/22, 8:51 PM Preview Quiz Chapter 12*: ECON-2302-010 https://alamo.instructure.com/courses/1453321/quizzes/3504972 1/6 Preview Quiz Chapter 12* Due Nov 13 at 11:49pm Points 10 Questions 10 Available Nov 7 at 12am - Dec 4 at 11:59pm Time Limit 15 Minutes Allowed Attempts 2 Instructions Attempt History Attempt Time Score LATEST Attempt 1 3 minutes 10 out of 10 Answers will be shown after your last attempt Score for this attempt: 10 out of 10 Submitted Nov 9 at 8:51pm This attempt took 3 minutes. Read Chapter 12 and complete this quiz. Take the Quiz Again 1 / 1 pts Question 1 ____________________ describes a situation where a third party, outside the transaction, suffers from a market transaction by others. Positive externality A spillover A market failure Negative externality
11/9/22, 8:51 PM Preview Quiz Chapter 12*: ECON-2302-010 https://alamo.instructure.com/courses/1453321/quizzes/3504972 2/6 1 / 1 pts Question 2 _______________ include both the private costs incurred by firms and also costs incurred by third parties outside the production process. Private costs Social costs External costs Market costs 1 / 1 pts Question 3 A pollution charge is a form of tax imposed on pollution control technologies. every economy in the world. low-income market-orientated industries. the quantity of pollution that a firm emits. 1 / 1 pts Question 4
11/9/22, 8:51 PM Preview Quiz Chapter 12*: ECON-2302-010 https://alamo.instructure.com/courses/1453321/quizzes/3504972 3/6 Which of the following have historically been more willing to sacrifice their environmental quality for some additional economic output? high-income, market-oriented economies low incomes and command economies European Union the United States 1 / 1 pts Question 5 Why would a typical U.S. business fail to take the social costs of pollution into consideration during the development of their operating strategies? it is following the principle of voluntary exchange of benefits government regulated the limits for how much pollutant can be emitted it isn't required to pay any of the cost of cleaning up its pollution the range of flexible, market-oriented pollution control policies are flawed 1 / 1 pts Question 6 Which of the following is viewed as a fundamental building block of the U.S. economic way of thinking?
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