The goal of the local Agenda 21 Program was to help communities generate activities to reduce greenhouse gas emissions. According to its website, Environment Canada planned to sponsor individual and community actions to promote sustainable development and greener societies for $6 million in 1997, and $5.2 million in 1998, 1999, 2000, and 2001. a) Display each item along an appropriate timeline. b) Find the formula and compute the present value of the Agenda 21 Program in 2023 dollars (using a 5% annual discount rate), c) Suppose that this program is the only action Canada undertakes in this domain. If some economists at Environment Canada claimed that the Action 21 Program is worth undertaking, because the amount you calculated in b) is equivalent to the change in consumer surplus (in the relevant markets, say for medical care, etc.) due to living in a greener environment, would you agree or disagree with these economists? Explain.
The goal of the local Agenda 21 Program was to help communities generate activities to reduce greenhouse gas emissions. According to its website, Environment Canada planned to sponsor individual and community actions to promote sustainable development and greener societies for $6 million in 1997, and $5.2 million in 1998, 1999, 2000, and 2001. a) Display each item along an appropriate timeline. b) Find the formula and compute the present value of the Agenda 21 Program in 2023 dollars (using a 5% annual discount rate), c) Suppose that this program is the only action Canada undertakes in this domain. If some economists at Environment Canada claimed that the Action 21 Program is worth undertaking, because the amount you calculated in b) is equivalent to the change in
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