Consider these cap-and-trade programs discussed in the chapter:

a. RECLAIM

b. Bush cap-and-trade proposal

c. Regional Greenhouse Gas Initiative (RGGI)

d. Clunker Program

e. National SO₂ Trading

f. European Trading System (ETS)
g. Bubbles h. Lead trading i. Waxman-Markey cap-and-trade Bill 1. Of the programs listed above, which were designed to address acid rain?
Urban air pollution? Global warming? Mercury pollution?
2. Which program(s) are known to have suffered (or may suffer) from problems with hot spots? Monitoring and enforcement? Thin markets?
Price volatility?