Legislation for stricter fuel economy standards for new cars produced in the United States will benefit each resident by $50 (lower transportation costs, cleaner air, etc.) for well over $15 trillion dollars in aggregate benefits. The cost of the legislation to domestic auto manufacturers will be $500 million. According to Special Interest Politics, since the benefits of the legislation clearly outweigh the costs, the policy will easily pass with little opposition. A. True B. False

Legislation for stricter fuel economy standards for new cars produced in the United States will benefit each resident by $50 (lower transportation costs, cleaner air, etc.) for well over $15 trillion dollars in aggregate benefits. The cost of the legislation to domestic auto manufacturers will be $500 million. According to Special Interest Politics, since the benefits of the legislation clearly outweigh the costs, the policy will easily pass with little opposition. A. True B. False

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter11: Public Goods And Common Resources

Section: Chapter Questions

Problem 3PA

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