Describe the benefits of shifting from environmentally harmful (unsustainable) to more
Chapter 23, Problem 7(choose chapter or problem)
Describe the benefits of shifting from environmentally harmful (unsustainable) to more environmentally beneficial (sustainable) government subsidies and tax breaks. Give three examples of environmentally harmful and three examples of environmentally beneficial government subsidies and tax breaks. What is the major reason that environmentally harmful subsidies have not been phased out? Should we tax pollution and wastes instead of wages and profits? Explain. What are the major advantages and disadvantages of using green taxes? What are three requirements for implementing green taxes? Distinguish between command-and-control and incentive-based government regulations, and describe the advantages of the second approach. What is the cap-and-trade approach to implementing environmental regulation, and what are the major advantages and disadvantages of this approach?
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