QUESTION 61 40 points From the list on your right select the letter that contains the word, phrase, name, etc that best matches the word, phrase, name, etc listed on the left. Perfect income equality A. Signals the possibility of labor market discrimination Specialization and Trade B. Tragedy of the Commons Social costs of producing a good exceed private cost C. Allow countries to consume at a level beyond their Production Possibilities Frontier "Lake Victoria's lethal combination of overfishing and pollution threatens not only the once-abundant fish stocks, but also the fragile environmental and D. Poverty trap programs economic ecosystems supported by Africa's largest lake. 35 million people E. Poverty line depend on these troubled waters for survival." - Slate F. Hurt a country if it is a net importer "As it stands, black women earn $0.63 for every dollar earned by their white male counterparts. Native American women earn $0.57 to every dollar, and G. Safety net programs Latina women earn $0.54. Meanwhile, white women and Asian women earn H. Ronald Coase $0.79 and $0.87, respectively." - CNBC 1. Public good "The 1990 Clean Air Act Amendment will result in a permanent 10 million ton reduction in sulfur dioxide (SO2) emissions from 1980 levels.... The J. Example of a marketable permit program to deal with negative externalities new law allows utilities to trade allowances within their systems and/or buy K. Serves as an evidence for the need to redistribute income or sell allowances to and from other affected sources." - EPA L. Require a country to be more efficient than others (Absolute advantage is "From 2007 to 2016, the average income of the poorest fifth of all U.S. necessary) households rose 12.1 percent to $12,943, while income of the wealthiest 5 M. Underproduction percent saw a 30.6 percent increase to $375,088." - Bloomberg N. The Lorenz curve would be a 45-degree line Marginal social benefit (MSB) exceeds Marginal private benefit (MPB) O. Adam Smith v Supplemental Nutrition Assistance Program (SNAP), Medicare/Medicaid, Supplemental Security Income Program (SSI), The Earned Income Tax P. The Lorenz curve will loop as farther down and away as possible from the 45- Credit (EITC), Temporary Assistance for Needy Families (TANF), Special degree line"As it stands, black women earn $0.63 for every dollar earned by their white male counterparts. Native American women earn $0.57 to every dollar, and G. Safety net programs Latina women earn $0.54. Meanwhile, white women and Asian women earn H. Ronald Coase $0.79 and $0.87, respectively." - CNBC 1. Public good "The 1990 Clean Air Act Amendment will result in a permanent 10 million ton reduction in sulfur dioxide (SO2) emissions from 1980 levels.... The J. Example of a marketable permit program to deal with negative externalities new law allows utilities to trade allowances within their systems and/or buy K. Serves as an evidence for the need to redistribute income or sell allowances to and from other affected sources." - EPA L. Require a country to be more efficient than others (Absolute advantage is "From 2007 to 2016, the average income of the poorest fifth of all U.S. necessary) households rose 12.1 percent to $12,943, while income of the wealthiest 5 M. Underproduction percent saw a 30.6 percent increase to $375,088." - Bloomberg N. The Lorenz curve would be a 45-degree line Marginal social benefit (MSB) exceeds Marginal private benefit (MPB) O. Adam Smith Supplemental Nutrition Assistance Program (SNAP), Medicare/Medicaid, Supplemental Security Income Program (SSI), The Earned Income Tax P. The Lorenz curve will loop as farther down and away as possible from the 45- Credit (EITC), Temporary Assistance for Needy Families (TANF), Special degree line Supplemental Food Program for Women, Infants and Children (WIC), etc Q. Government programs to increase production of goods with positive externalities Clearly defined property rights can help address negative externality R. Marginal social cost (MSC) curve (the supply curve that takes externality into account ) is found to the left of the marginal private cost (MPC) curve (private supply curve) S. An example of income inequality T. Caused by illegal immigration