Climate abatement policies are considered a _________.marginal private benefitmarginal social benefitnegative externalitypositive externality
Question
Climate abatement policies are considered a _________.
- marginal private benefit
- marginal social benefit
- negative externality
- positive externality
Solution
Marginal social benefit.
Step 1: Understanding Climate Abatement Policies Climate abatement policies are measures taken to reduce the severity or pace of climate change. These can include policies to reduce greenhouse gas emissions, promote renewable energy, improve energy efficiency, and protect and restore forests and other natural carbon sinks.
Step 2: Understanding Marginal Social Benefit The marginal social benefit of a good or service is the total benefit to society, including both the private benefit to the individual or firm and the external benefit to others. In the case of climate abatement policies, the marginal social benefit includes the direct benefits of reduced climate change (such as less severe weather events and lower sea level rise) and the indirect benefits (such as improved air quality and health outcomes).
Step 3: Classifying Climate Abatement Policies Therefore, climate abatement policies can be considered a marginal social benefit. They provide benefits to society as a whole, not just to the individuals or firms that implement them.
So, the answer to the question "Climate abatement policies are considered a _________." is Marginal social benefit.
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