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What is the precautionary principle

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1. What is the "precautionary principle? How do the FDA and EPA differ with respect to its use?

2. How does a pollution cap resemble a pollution tax? Whats the difference between them?

3. Under what circumstances is permit trading a necessary part of "cap-and-trade," and under whatcircumstances can a policy have "cap-and-no-trade"?

4. What is the difference between an economic cost and an economic transfer, and how is this relevant in incentive-based environmental policies?

Reference no: EM131273647

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