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A tradeoff exists between a clean environment and a higher level of income in that a
A tradeoff exists between a clean environment and a higher level of income in that
a. studies show that individuals with higher levels of income actually pollute less than low-income individuals.
b. efforts to reduce pollution typically are not completely successful.
c. laws that reduce pollution raise costs of production and reduce incomes.
d. by employing individuals to clean up pollution, employment and income both rise.
Expert Solution
- The correct option is c. Laws that reduce pollution raise costs of production and reduce incomes.
The term tradeoff means sacrificing something to get the other by keeping income and utility levels constant. In general, when there exists a trade-off between a clean environment and a higher level of income then the laws concerning the reduction in the pollution level will raise the cost of pollution reduction as now individuals and businesses have to pay more to get a clean environment.
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