Please help me with this microeconomics question:

6. An individual "realizes" capital gains on an asset when . . .

(a) the value of an asset increases faster than inflation.

(b) his asset appreciates in value.

(c) his asset depreciates in value.

(d) he sells the asset for more than it originally cost.

(e) he sells the asset for less than it originally cost.

7. From the perspective of economic efficiency, an unregulated market

outcome in the presence of a negative externality results in . . .

(a) a price that is too high and a quantity that is too low.

(b) a price that is too low and a quantity that is too high.

(c) a price and quantity that are both too low.

(d) a price and quantity that are both too high.

(e) the correct price and quantity.

10. What are the two characteristics of an artificially scarce good?

(a) Excludable and nonrival

(b) Nonexcludable and nonrival

(c) Excludable and rival

(d) Excludable and nonrival

(e) None of the above

11. What statement below provides the best description of the supply curve

for an artificially scarce good?

(a) A vertical line

(b) A horizontal line

(c) An upward-sloping line

(d) A downward-sloping line

(e) There are two supply curves.

12. Most earlier economic analyses suggested the ideal carbon tax would be about $20-$40 per ton of carbon, but the 2006 "Stern Review" concluded that the ideal carbon tax would be over $300 per ton of carbon. The main reason that the Stern Review's cost-benefit analysis sup-

ported a much higher tax was that . . .

(a) it used a much lower discount rate.

(b) it treated the atmosphere as a common property resource.

(c) it recognized the threat of free-riding.

(d) it viewed carbon emissions as a negative externality.

(e) it argued that the transition away from fossil fuels would save

money.