Asked by Sagar Rajput on Jun 22, 2024

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Laws that require vehicles to have catalytic converters or that restrict or prohibit leaf burning are:

A) Pigouvian taxes.
B) internalization of externalities.
C) transaction costs.
D) environmental standards.

Catalytic Converters

Devices incorporated in the exhaust system of vehicles that reduce harmful emissions by converting pollutants into less harmful substances.

Internalization of Externalities

Refers to actions taken to incorporate the external costs or benefits of a good or service into the price paid by the consumers or producers.

  • Discern various policy measures implemented for environmental preservation, encompassing environmental benchmarks, emissions taxation, Pigouvian levies, and exchangeable emissions licenses.
  • Explain the role of environmental standards in controlling pollution and their limitations.
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AS
Ashley SartinJun 28, 2024
Final Answer :
D
Explanation :
Laws that require vehicles to have catalytic converters or that restrict or prohibit leaf burning are examples of environmental standards. These standards are put in place to minimize negative externalities, such as air pollution, and promote public health and safety. They differ from Pigouvian taxes in that they do not involve a monetary penalty for negative externalities, and from internalization of externalities in that they are not market-based solutions.