Writing in the New York Times in August 2009,N.Gregory Mankiw asserted that the particular "cap and trade" legislation that was making its way to President Obama's desk at that time would result in
A) reduced purchasing power for Americans.
B) reduced work incentives.
C) depressed economic activity.
D) All of the above are correct.

Question

Quizplus · Accepted Answer

Mankiw argued that the cap and trade legislation would lead to higher energy prices, which would reduce purchasing power, work incentives, and overall economic activity.