**Carbon Dioxide Emission Reduction Policies**Carbon dioxide emissions have been linked to global warming. The following table lists some possible public policies aimed at reducing the amount of carbon dioxide in the air.*For each policy listed, identify whether it is a command-and-control policy (regulation), tradable permit system, corrective subsidy, or corrective tax.*| **Public Policy** | **Command-and-Control Policy** | **Tradable Permit System** | **Corrective Subsidy** | **Corrective Tax** ||------------------|---------------------------------|----------------------------|-------------------------|--------------------|| Trees take carbon dioxide out of the air and convert it to oxygen, so the government funds a tree-planting initiative by offering $400 to any citizen who plants a tree. | | | ○ | || The government orders every factory to adopt a new technology, which reduces carbon-dioxide emissions into the atmosphere. | ○ | | | || The government limits total carbon-dioxide emissions by all factories to 150,000 tons per year. Each individual factory is given the right to emit 180 tons of carbon dioxide, and factories may buy and sell these rights in a marketplace. | | ○ | | || The government charges factories $400 for every ton of carbon dioxide they emit. | | | | ○ |**Explanation of Terms:**- **Command-and-Control Policy:** Direct regulations that determine how a specific activity is conducted. For example, mandating technology to control emissions. - **Tradable Permit System:** Allows companies to buy and sell emission rights, providing flexibility in how they comply with limits on emissions. - **Corrective Subsidy:** Financial incentives given to encourage activities that reduce emissions, like tree planting. - **Corrective Tax:** Taxes imposed on activities that generate emissions, intended to reduce pollution by increasing costs.

Various policies like command and control, tradable permit system, corrective subsidy, corrective taxes were used to mitigate the environmental problems created by human activities.1- Corrective subsidy: The government is offering a financial incentive to encourage people to plant trees, which will help to reduce carbon dioxide emissions.2- Command-and-control policy: The government is directly ordering factories to adopt a new technology, which will reduce carbon dioxide emissions.3- Tradable permit system: The government has set a limit on total carbon dioxide emissions, but it is allowing factories to buy and sell emission permits. This allows factories that are more efficient at reducing emissions to sell their permits to factories that are less efficient.4- Corrective tax: The government is charging factories a tax for every ton of carbon dioxide they emit. This tax will make it more expensive for factories to pollute, and it will encourage them to find cleaner ways to produce their products.

Answered: For each policy listed, identify…

Business

Economics

For each policy listed, identify whether it is a command-and-control policy (regulation), tradable permit system, corrective subsidy, or corrective tax.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Related questions

Q: People are increasingly dependent upon social media to connect with friends and family and to…

A: As the question asked has multiple questions in it, so we are answering the first question only.…

Q: U.S. route 83 passes through the village of Burr Ridge, IL. The engineers of the Transportation…

A: The term "economic impact" describes how a specific economic action or event affects the economy,…

Q: A cost imposed on society that creates inefficiency in the market is called a(n) _____.…

A: The question is asking for the term that describes a cost that is imposed on society and creates…

Q: To ensure citizens are told the truth. To promote nationalism. To interpret and apply the laws as…

A: Mass media guidelines are rules implemented by the locale of law. Rules for media use contrast…

Q: D2 (A) (B) S, P S2 P (C) (D) Which of the diagrams illustrates the effect of a governmental subsidy…

A: The answer is C only

Q: present information related to one (1) of the different types of government regulation

A: Government regulation is the set of rules and laws that ensure discipline and non-discrimination in…

Q: Which of the following is not overseen by the government? Group of answer choices minimum wage…

A: Governments oversee economic activities for several reasons, often driven by a combination of…

Q: Command-and- Control Policy Tradable Permit System Corrective Subsidy Corrective Tax O For each…

A: Public policy is the combination of regulations, laws, and other governmental actions to control…

Q: When a program that provides a subsidy for a given good, X, generates a kinked budget constraint…

A: The kinked demand curve theory was propounded by Paul M. Sweezy to explain the oligopolistic market…

Q: 22] Suppose the regulator uses its BELIEF about the AMAC function to achieve efficient emissions…

A: In this scenario the regulator is using its belief in the AMAC (Aggregate Marginal Abatement Cost)…

Q: The value added of a producer is the O value of its total sales once externalities are accounted…

A: Answer- Need to find- The value-added of a producer is the Evaluating the options- 1. Value of its…

Q: help

A: The objective of the question is to identify the item that is not typically excluded from coverage…

Q: 1. If there is a population boom in California, the (demand/quantity demand) for surfboards will…

A: Disclaimer: Since you have asked multipart questions, we will solve the first three questions for…

Q: Which of these is one effect of government price supports in the agriculture industry? The supply…

A: Price supports are government policies that aim to maintain or increase the price of a particular…

Q: Which of the following statements about corrective taxes is generally not true? a) Economists…

A: When a commercial activity produces negative externalities, a corrective tax is imposed. The tax is…

Q: Zoning laws are intended to: A) Regulate land use within urban areas B) Promote unrestricted…

A: Zoning laws are designed to control how land is used and developed in specific areas, ensuring that…

Q: Caffeine is a highly addictive drug found in coffee, tea, and some sodas. Unlike cigarettes,…

A: The effectiveness of taxes on controlling consumption depends oñ the extension of demand or the…

Q: Explain changes in the U.S. economy that have made Public Law 86-272 partially obsolete

A: Enacted in 1959, Public Law 86-272 is a US legislative law that shields enterprises from specific…

Q: Explain the economic effects of price supports. Explicitly include environmental and global impacts…

A: Support instruments have two main effects: they create transfers which reflect changes within the…

Q: Market failures Multiple Choice O O O о are only a concern when they result in prices that are too…

A: Market failure is a situation when the market is fail to allocate resources efficiently. There are…

Question

**Carbon Dioxide Emission Reduction Policies**

Carbon dioxide emissions have been linked to global warming. The following table lists some possible public policies aimed at reducing the amount of carbon dioxide in the air.

*For each policy listed, identify whether it is a command-and-control policy (regulation), tradable permit system, corrective subsidy, or corrective tax.*

| **Public Policy** | **Command-and-Control Policy** | **Tradable Permit System** | **Corrective Subsidy** | **Corrective Tax** |
|------------------|---------------------------------|----------------------------|-------------------------|--------------------|
| Trees take carbon dioxide out of the air and convert it to oxygen, so the government funds a tree-planting initiative by offering $400 to any citizen who plants a tree. | | | ○ | |
| The government orders every factory to adopt a new technology, which reduces carbon-dioxide emissions into the atmosphere. | ○ | | | |
| The government limits total carbon-dioxide emissions by all factories to 150,000 tons per year. Each individual factory is given the right to emit 180 tons of carbon dioxide, and factories may buy and sell these rights in a marketplace. | | ○ | | |
| The government charges factories $400 for every ton of carbon dioxide they emit. | | | | ○ |

**Explanation of Terms:**

- **Command-and-Control Policy:** Direct regulations that determine how a specific activity is conducted. For example, mandating technology to control emissions.

- **Tradable Permit System:** Allows companies to buy and sell emission rights, providing flexibility in how they comply with limits on emissions.

- **Corrective Subsidy:** Financial incentives given to encourage activities that reduce emissions, like tree planting.

- **Corrective Tax:** Taxes imposed on activities that generate emissions, intended to reduce pollution by increasing costs.

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1: Define the problem

VIEW

Step 2: Choose the regulation type

VIEW

Step 3: Provide regulation type explanation

VIEW

Solution

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 4 steps with 2 images

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.

Similar questions

Efficiency losses Are not possible if suppliers are willing to produce and sell a product. Can only result from underproduction. Can only result from overproduction. None of the above.
Which of the following is subject to sales tax in the District of Columbia? Multiple Choice O roast beef tomatoes shampoo milk None of the answer choices are correct.
pik Schiel 0 ( QR Q2 MC2 FIRMI permits метро Firma shing p* > MC₂ will abate QA sell. Wilfrid I permet
Compare placing a tax on gasoline to a mandated increase in the average fuel efficiency of each car in terms of reducing the usage of gasoline, reducing greenhouse gases, and also providing consumers with choice in their vehicle selection. Analyze the impact on consumers, service stations, and car manufacturers.
An insurance producer who, for the first time, knowingly misappropriates $150 of fiduciary monies is guilty of A deceptive business practice An unfair method of competition A class A misdemeanor A class 3 felony
Environmental NGOs include (select all that apply): Group of answer choices Nature Conservancy Greenpeace Rainforest Action Network Amnesty International
Carbon dioxide emissions have been linked to worsening climate conditions. The following table lists some possible public policies aimed at reducing the amount of carbon dioxide in the air. For each policy listed, identify whether it is a command-and-control policy (regulation), tradable permit system, corrective subsidy, or corrective tax. Public Policy Command-and-Control Policy Tradable Permit System Corrective Subsidy Corrective Tax The government limits total carbon-dioxide emissions by all factories to 130,000 tons per decade. Each individual factory is given the right to emit 170 tons of carbon dioxide, and factories may buy and sell these rights in a marketplace. Trees take carbon dioxide out of the air and convert it to oxygen, so the government funds a tree-planting initiative by offering $480 to any citizen who plants a tree. The government orders every factory to adopt a new technology, which reduces…
Due to harmful effect in smoking, the government would like to discourage smoking. Appraise the welfare effects of using price controls and taxes to discourage consumption of cigarettes. Explain your answers with suitable diagrams.
The government can force you to sell your personal residence to them for fair market value (reasonable compensation) if the government is going to use your property for a public purpose. True or False?
Please see below. I need to verify the answer I've chosen.
Implicit Price is co2= 4 USD / ton; Marginal benefit curve to be modelled by y=3x2+5x-2 Expected marginal cost to be modeled by y= -15x+18 Calculate the real market cost, define the best mechanism to implement a carbon reduction program. Explain why and implement if necessary, price control mechanisms. Through price discovery, the scheme finds out that the real marginal cost curve is y=-4x+120. Explain if your previous choice was the best, and what would you need to do in order to minimize losses and maximize CO2 reduction.
Question 16 Which of the following is a means of allocating import licenses by assigning the licenses without competition, applications, or negotiation? Group of answer choices Resource-using application procedures Domestic content requirements Fixed favoritism None of the above