An economist for the Brookings Institution argued that “a price on carbon would minimize the cost of steering economic activity away from the greenhouse gas emissions that threaten the climate.”

a. In what sense does a carbon tax put a price on carbon?

b. How would a carbon tax steer economic activity away from greenhouse gas emissions?

c. Why might a carbon tax be less costly to the economy than a command-and-control approach to reducing greenhouse gases? Why might a command-and-control approach to pollution control still be more politically popular than a carbon tax? Include in your answer a brief discussion of the difference between the normative analysis and positive analysis of this policy issue.