(Last Word) A cap-and-trade program
A) assigns a property right to the atmosphere.
B) mandates that every ﬁrm individually cut its emissions to below a certain level.
C) assigns a property right to polluting the atmosphere.
D) is easy to establish and enforce.

Question

Quizplus · Accepted Answer

A cap-and-trade program essentially assigns a property right to polluting the atmosphere by allocating pollution permits that can be traded among firms. This allows for a market-based approach to controlling pollution levels.

(Last Word) a Cap-And-Trade Program