Evaluate the alternative policies to reduce carbon emissions

Assignment Help Macroeconomics

Reference no: EM133300702

Topic: A Wall Street Journal article (Democrats Rethink Climate Measures, Consider Carbon Tax; Party needs to stay united to pass $3.5 trillion proposal without GOP support. Duehren, Andrew. New York, N.Y. [New York, N.Y]. 16 Sep 2021.) describes Senate Democrats' fresh interest for cutting emissions: a carbon tax proposal to reduce global warming.

Question 1: What would be the main welfare impacts of the tax on carbon emissions? Please evaluate the impacts on the households (consumers), businesses (producers) and society (including the government tax revenue).

Question 2: Use the graph you drew in (or draw a new graph) to explain the tax incidence? Who pays more tax? Will there be a large deadweight loss? Explain briefly.

Question 3: Evaluate the alternative policies to reduce carbon emissions, such as tax credits for purchasing electric vehicles, subsidies to the clean energy industry, and a fee on methane emissions.

Reference no: EM133300702

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