1. B: incorrect

- The correct answer is ____

An economist for the Brookings Institution argues that "a price on carbon would minimize the cost of steering economic activity away from the greenhouse gas emissions that threaten the climate.\" Source: Fred Dews, "10 'I1Iings You Should Know about the Carbon Tax," brookings.edu, May 4-, 2013. In what sense does a carbon tax put a price on carbon? 0 A. A carbon tax puts a price on carbon by decreasing the private benet of polluting. G) B. A carbon tax puts a price on carbon by increasing the social cost of polluting. O C. Acarbon tax puts a price on carbon by decreasing the social benet of polluting. O D. Acarbon tax puts a price on carbon by increasing the private cost of polluting. The more frequently bacteria are exposed to antibiotics, the more quickly the bacteria will develop resistance to the antibiotics Health Canada states: Antibiotic resistance is a public health concern around the world. The number of bacteria that are resistant to antibiotics is increasing. The danger of antibiotic resistance is that treatable illnesses, such as pneumonia, tuberculosis, or minor infections could become incurable. . . . Infections caused by resistant bacteria mayr be resistant to more than one antibiotic. From Health Canada, "Antibiotic Resistance and Risks to Human Health," September 30, 2014, https:wawcanada.calenlpublic-healthiserviceslantibioticantimicrobialresistancelimpactsantibiotic-resistance.htm|. Briey discuss in what sense antibiotics can be considered a common resource. Choose the correct answer below. 0 A. In this context. antibiotics are like common resources in that they are excludable. O B. In this context. antibiotics are like common resources in that their use generates a negative externality. O C. In this context. antibiotics are like common resources in that they are underprovided. G) D. In this context, it is bothA and B. O E. In this context, it is none of the above If government is planning to increase sales tax, it will increase the deadweight loss to the whole society. Since, consumers have to pay more money on purchasing, and producer will receive less money on selling. Both consumer and producer surplus will decrease. Also, as sales tax rate increase, the quantity exchanged in the economy will likely to decrease, this will be harmful for the economy. Household and businesses' interest are both damaged. Since, a higher sales tax means less purchasing power for household. A higher sales tax means a less margin for business. I believe that consumer or household will eventually bear the greatest burden of the tax, since there is no alternative option for them to choose. They have to accept the increasing tax rate. If government plans to increase sales tax, it may have a negative effect on revenue revenue. As we know that tax rate will rstly increase and then decrease as tax rate constantly increase. Also, the increasing tax will create more deadweight loss for the society. This will have negative impact on all of the economy, household, and business. Canadian household will eventually bear the greatest burden of the tax. This is resulted from that household has less elastic than producer. For example, supplier can sell their production to the oversea market. Thus, Supply curve will be relatively elastic than consumers. Due to relatively inelastic demand, consumer must bear a greater burden of tax. Suppose a common resourcewood in a public forestis being overused because residents consider the benets of gaining rewood or wood for building but do not account for the cost of deforestation when chopping down trees. What could be done to prevent wood in the forest from being overused? To prevent overuse oi the common resource. 0 A. the government could impose restrictions on access to wood in the torest. B. the community could establish social customs prohibiting the use of permits required to chop down trees. 0 c. the government could subsidize chopping down trees. 0 D. the community could create transaction costs to private bargaining. O E. the government could make a binding commitment to keep the forest lands public