ioms of hew the specific problem referenced is an issue in various economic decisions ut u policy level. In your discussion explain the particular reason the problem is important, how it impacts public decision making and relating it to several different specific policy areas. а. efficiency versus equity) as transcending across a range of the specific topical areas we have discussed and indicating how the conflict appears.)

ioms of hew the specific problem referenced is an issue in various economic decisions ut u policy level. In your discussion explain the particular reason the problem is important, how it impacts public decision making and relating it to several different specific policy areas. а. efficiency versus equity) as transcending across a range of the specific topical areas we have discussed and indicating how the conflict appears.)

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter12: Environmental Protection And Negative Externalities

Section: Chapter Questions

Problem 10SCQ: Suppose a city releases 16 million gallons of raw sewage into a nearby lake. Table 12.8 shows the...

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In the tradeoff between economic output and environmental protection, what do the combinations on the protection possibility curve represent?
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5. If a carbon-offset project is already profitable, is it ethical to provide credits over and above those profits? Why or why not? 6. consider the company you currently work for(or one you have worked for in the past). What initatives could it start to be more socially responsible? How would you propose such changes?
Imagine a scenic canyon, visited by many local people as well as tourists from beyondthe local area. Consider a scenario in which a mining company has proposed to the localauthority that it be closed to the public and put into the production of coal. Thinking interms of economics as a way of adjudicating the relative value of one use of the canyon overthe other, what would you need to know in order to make a comparison or assessment?What kinds of quantitative data would inform your decision, and where might they comefrom? What kinds of things might you need to know that are hard to measure? Once youhave listed the kinds of information and data that might be available to inform this decision, do you think it would be sufficient to making this decision, why or why not?
Computer models of global climate changecaused by increasing carbon dioxide in the atmosphere predictnot only higher overall temperatures, but also more intense andfrequent heat waves. During the devastating European heatwave in the summer of 2003, between 35,000 and 52,000“excess deaths” occurred. Before taking specific actions toreduce carbon dioxide emissions, economists and politicians tryto estimate the costs. Should excess deaths be included as acost of inaction? If so, what value should we place on a life?
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6. Describe how public choice economics model the behavior of various political actors (citizens, politicians,special interest groups, bureaucrat). Be specific in how they would model 2 actors decisions. Give examples.
12. A justification for government intervention in the economy arises from the fact that market systems usuallyproduce ________ outcomes, but they do not necessarily produce ________ outcomes.A Efficient; equitableB Equitable; efficientC Efficient; profitableD Profitable; equitable
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ls the free market (capitalism) approach a better way to sustainability or do we need more regulation and government interference in this area?
Upon comparing the costs and benefits, both private and social, of education leads economists to the conclusion that the _____. a. socially optimal strategy would be to focus on primary education b. socially optimal strategy would be to focus on secondary education c. privately optimal strategy would be to focus on secondary education d. privately optimal strategy would be to focus on private education e. None of the above