Principles of Economics (12th Edition)
Principles of Economics (12th Edition)
12th Edition
ISBN: 9780134078779
Author: Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher: PEARSON
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Chapter 16, Problem 1.7P
To determine

Impact of the natural disaster on the recovery and adjustment of the economy.

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1) Identify a concept on your own from Douglas North and explain it in your own words. You need to CLEARLY identify the source (i.e. name of the book and page, or link of the video and time, or name and link of the website). (one paragraph) 2) How would you use this concept to explain an observation in your life, a historical event, a cultural norm or institution, a local/international problem, create a solution to an environmental issue, or to create a business opportunity? (one paragraph)
Imagine you are working as a climate advisor to the federal government and they want to craft a bill to drastically reduce methane emissions in America. Which of the following policies would you recommend to them as the most effective in reducing methane?   a. federal and state funding being directed to the western states for large scale forest management and fire prevention   b. incentive programs to reduce meat production and consumption, while additionally subsidizing alternative diet options   c. a nationwide waste management program focused on composting organic material to divert waste from landfills   d. incentivizing solar panels to allow for affordable renewable energy that is competitive with market pricing for energy]
What do economists call the costs of climate change imposed on the rest of the world by the production of a product? tragedy of the commons an externality a carbon tax a market failure
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