Econ Land typically measures their country's performance using Gross Domestic Product (GDP), as most countries do. As their economic advisor, you have recently clued them in to alternative measures that include items GDP does not, such as the depreciation of natural capital and ham done from pollution. Below are some of the relevant numbers for Econ Land's economy. https://online.smcedu/courses/45798/quizzes/227795 17/32 12/17/21, 7:05 PM Final: 2021 Fall - ECON 4 ENVRN 4 (3505 3508) [9.16]- Urutia - (O) Economic Data Gross Domestic Product $50 billion Depreciation of human-made capital $5 billion Timber Data End of year timber stocks (feet) 2 billion End of year timber price/foot $5 Start of year timber stocks (feet) 3 billion Start of year timber price/foot $4 Oil Data End of year oil stocks (barrels) 150 million End of year oil price/barrel $50 Start of year oil stocks (barrels) 200 million Start of year oil price/barrel $45 Carbon Data CO2 Emissions (tons) 30 million Damage/ton $50 Other Data Defensive expenditures $1 billion Biodiversity loss $15 billion https://online.sme edulcourses/45798/quizzes/227795 18/32 12/17/21, 7:05 PM Final: 2021 Fall - ECON 4 ENVRN 4 (3505 3508) [9.16]- Urutia - (O) Use the numbers in the table to calculate Econ Land's Green GDP.
Econ Land typically measures their country's performance using Gross Domestic Product (GDP), as most countries do. As their economic advisor, you have recently clued them in to alternative measures that include items GDP does not, such as the depreciation of natural capital and ham done from pollution. Below are some of the relevant numbers for Econ Land's economy. https://online.smcedu/courses/45798/quizzes/227795 17/32 12/17/21, 7:05 PM Final: 2021 Fall - ECON 4 ENVRN 4 (3505 3508) [9.16]- Urutia - (O) Economic Data Gross Domestic Product $50 billion Depreciation of human-made capital $5 billion Timber Data End of year timber stocks (feet) 2 billion End of year timber price/foot $5 Start of year timber stocks (feet) 3 billion Start of year timber price/foot $4 Oil Data End of year oil stocks (barrels) 150 million End of year oil price/barrel $50 Start of year oil stocks (barrels) 200 million Start of year oil price/barrel $45 Carbon Data CO2 Emissions (tons) 30 million Damage/ton $50 Other Data Defensive expenditures $1 billion Biodiversity loss $15 billion https://online.sme edulcourses/45798/quizzes/227795 18/32 12/17/21, 7:05 PM Final: 2021 Fall - ECON 4 ENVRN 4 (3505 3508) [9.16]- Urutia - (O) Use the numbers in the table to calculate Econ Land's Green GDP.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Use the numbers to calculate Econ Land's Green
![Econ Land typically measures their country's performance using Gross
Domestic Product (GDP), as most countries do. As their economic
advisor, you have recently clued them in to alternative measures that
include items GDP does not, such as the depreciation of natural capital
and ham done from pollution. Below are some of the relevant numbers
for Econ Land's economy.
https://online.smcedu/courses/45798/quizzes/227795
17/32
12/17/21, 7:05 PM
Final: 2021 Fall - ECON 4 ENVRN 4 (3505 3508) [9.16]- Urutia - (O)
Economic Data
Gross Domestic Product
$50 billion
Depreciation of human-made capital
$5 billion
Timber Data
End of year timber stocks (feet)
2 billion
End of year timber price/foot
$5
Start of year timber stocks (feet)
3 billion
Start of year timber price/foot
$4
Oil Data
End of year oil stocks (barrels)
150 million
End of year oil price/barrel
$50
Start of year oil stocks (barrels)
200 million
Start of year oil price/barrel
$45
Carbon Data
CO2 Emissions (tons)
30 million
Damage/ton
$50
Other Data
Defensive expenditures
$1 billion
Biodiversity loss
$15 billion
https://online.sme edulcourses/45798/quizzes/227795
18/32
12/17/21, 7:05 PM
Final: 2021 Fall - ECON 4 ENVRN 4 (3505 3508) [9.16]- Urutia - (O)
Use the numbers in the table to calculate Econ Land's Green GDP.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F86afe985-f232-46df-bc0c-b8463cbfd0c4%2F4127a67b-858a-4a01-97af-64b507624685%2Frgtjrc_processed.png&w=3840&q=75)
Transcribed Image Text:Econ Land typically measures their country's performance using Gross
Domestic Product (GDP), as most countries do. As their economic
advisor, you have recently clued them in to alternative measures that
include items GDP does not, such as the depreciation of natural capital
and ham done from pollution. Below are some of the relevant numbers
for Econ Land's economy.
https://online.smcedu/courses/45798/quizzes/227795
17/32
12/17/21, 7:05 PM
Final: 2021 Fall - ECON 4 ENVRN 4 (3505 3508) [9.16]- Urutia - (O)
Economic Data
Gross Domestic Product
$50 billion
Depreciation of human-made capital
$5 billion
Timber Data
End of year timber stocks (feet)
2 billion
End of year timber price/foot
$5
Start of year timber stocks (feet)
3 billion
Start of year timber price/foot
$4
Oil Data
End of year oil stocks (barrels)
150 million
End of year oil price/barrel
$50
Start of year oil stocks (barrels)
200 million
Start of year oil price/barrel
$45
Carbon Data
CO2 Emissions (tons)
30 million
Damage/ton
$50
Other Data
Defensive expenditures
$1 billion
Biodiversity loss
$15 billion
https://online.sme edulcourses/45798/quizzes/227795
18/32
12/17/21, 7:05 PM
Final: 2021 Fall - ECON 4 ENVRN 4 (3505 3508) [9.16]- Urutia - (O)
Use the numbers in the table to calculate Econ Land's Green GDP.
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