Think about a country where most economic production results inair pollution that creates lots of...
Think about a country where most economic production results in
air pollution that creates lots of smog. What would be the
trade-off if the bad result (air pollution) were reduced?
Choose one:
A. more of the activity that creates lots of smog
B. less of the activity that creates lots of smog
C. lower incomes
D. higher incomes
Homework Answers
C. lower incomes
In order to reduce the bad activity, a specific cost is to be incurred in reducing or abating it. This is likely to raise the geneal price level and reduce output and income because now the society will be paying a portion of that cost. This is the trade-off that the society has to face, higher income with higher pollution or lower pollution with lower incomes.
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Choose one:
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