(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 assigns a property right to polluting the atmosphere by allowing firms to buy and sell emission permits, thus creating a market for pollution rights.

(Last Word) a Cap-And-Trade Program