(a) Explain what is meant by command-and-control in terms of a demand side climate change policy. What are the pros and cons of this as a policy option? (b) Using a diagram, explain how a carbon tax could help reduce pollution. (c) Using a diagram or diagrams, explain how a cap-and-trade scheme could result in pollution reduction.
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- What makes climate change an economic problem? And if it is, how should policy dealwith it?Your answer should include reference to at least three of the following aspects of theproblem:a) Climate change as an externalityb) A carbon tax vs. cap and tradec) Cost-benefit analysisd) Assessing costs to future generationse) Environmental dynamicsThe revenues from an emissions-charge approach to controlling climate change would be unusually large in comparison to other pollutants. What circumstances would lead to high revenues?What is the role of carbon pricing mechanisms, such as cap- and - trade systems and carbon taxes, in addressing climate change? A. To incentivize the reduction of greenhouse gas emissions B. To promote deforestation C. To increase fossil fuel consumption D. To subsidize renewable energy sources
- A corrective tax on the emission of carbon wastes is one possible way to reduce the economic costs associated with global warming. Critically analyze the Pigovian or Corrective Taxes?In an attempt to bring equity to the climate change agreement, the Framework Convention on Climate Change incorporated the concept of common but differentiated responsibilities, which suggested what? Select all that apply: a. developing countries may need to hinder their growth in order to meet emission reduction goals b. responsibility for reducing emissions should be placed on large corporations rather than countries c. all countries should be responsible for the same percentage of emission reductions d. the richest countries of the world should cut emissions prior to developing countries e. countries that have contributed more to overall emissions should be responsible for more reductionsQ)What are economists most concerned with when determining the desirability of pollution abatement programs? a. the expected future costs associated with rising ocean levels b. the future savings to the health-care system from fewer environmental illnesses c. equating the marginal cost and marginal benefit of pollution abatement d. the level of greenhouse gas emissions from automobiles
- Individuals go for flu injection not only protect themselves against flu but also help to prevent the disease from spreading in the community. (a) What type of externality occurs in the flu injection market? (b) Is the market outcome efficient? (c) What can the government do to rectify the externality issue?Describe one type of negative market externality with a forest as it relates to climate change. Explain what the negative externality is and what it means for the market with no government intervention. b) Now describe two different ways the government could intervene in the market you described in the previous question. How does each government action change that market and what are those changes c) Identify two important ways that a natural resource economist can support the government interventions you have described in this questionComment on the free rider problem in the context of global climate agreements.
- 34. what are some proms and cons of being an environmental economist?Free-market environmentalism has the potential to improve environmental outcomes A. Because it forces individuals to cooperate with each other toward a common goal B. Because it relies on already existing markets to address environmental issues, thereby reducing transaction costs C. Because it recognizes the importance of aligning incentives of stakeholders D. Because it rejects the constraints of the Coase Theorem E. Because its goal is to maximize corporate wealth, which promotes environmentalism and improves environmental outcomesImagine 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]