Economics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN: 9781305506725
Author: James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher: Cengage Learning
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Chapter 1, Problem 14CQ
Should the United States attempt to reduce air and water pollution to zero? Why or why not?
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Economics: Private and Public Choice (MindTap Course List)
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- First, is it possible to have zero pollution? Next, even if it is possible, would we want to achieve zero pollution? Lastly, do you think there is too much pollution, and if so why?arrow_forwardThere is a saying that a person worried about the source of his next meal is not much concerned about the level of pollution in the nearby stream. How does this saying reflect that pollution is a first world, as opposed to third world, problem? Put differently, does the evidence – both over time within economies and across economies at a given time – indicate that the pollution problem gradually cures itself as economies become more prosperous?arrow_forwardwhat are the corrective taxes? why do economists prefer them to regulate as a way to protect the environment from pollution?arrow_forward
- What are corrective taxes? Why do economists prefer them to regulations as a way to protect the environment from pollution?arrow_forwardDo you think that there would be external effects associated with Water from a uranium mine leaking into Kakadu National Park? If so, what would be the nature of the external effects? Can you think of policies that might deal with each external effect (that is, improve social wellbeing)?arrow_forwardwhy environmentalists consider economics as enemy of the environment?arrow_forward
- Economists argue that if you are trying to maximize net social benefits, you generally should NOT keep doing more of something (like reducing pollution) until the total cost of abatement exceeds the total damages of the pollution (i.e., the total benefits of abatement). You should stop sooner. Why?arrow_forwardIt’s common to think that reducing pollution is necessarily costly because to reduce pollution we need to tax firms who will then produce less. But can you think of one example in which pollution might not only be unpleasant but might actually reduce production?arrow_forwardIs the following good a private good, a public good, a common resource, or a club good? Explain why the good is rival or non-rival and excludable or non-excludable. An oil pipelinearrow_forward
- Considering the Human Right to Adequate Food, should “healthy” food be made available to all, free of charge, and funded by the government? Consider the nature of “public goods” and “private goods”, as well as “opportunity cost”, efficiency, equity, externalities, and markets.arrow_forwardA gas tax that a government enacts to fight climate change works by: O externalizing the internal cost of climate change. internalizing the external cost of climate change. O raising funds that the government can use to fight climate change. raising funds to finance social safety net programs needed to cushion the downturn caused by the transition to a green economy.arrow_forwardLeft to its own devices, a free-market economy will not result in the level of environmental quality that people want. Firms pollute, and people make expenditures without concern for environmental consequences. We need some level of government intervention to ensure those decisions take account of other people’s concerns. However, regulation cost tax dollars and is an infringement of liberty. How can we determine how much environmental quality we want and what is the best way of getting it?arrow_forward
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Environmental Law: The Clean Air Act; Author: LawShelf;https://www.youtube.com/watch?v=1-SH3kJpVA4;License: Standard Youtube License