1. Think of an environmental problem (e.g., climate change, acid rain, agricultural chemical run-offs, water pollution, air pollution, etc.) that seems interesting or urgent to you. a. Briefly describe this problem. What causes it? What are the potential short-term and long-term impacts? b. Suppose that you are a policy maker and you are in charge of implementing a policy dealing with this problem. i. Suppose that you propose a standard. Briefly explain how this policy would work and how it would deal with the environmental issue. What would be the positive attributes of this policy? What would be negative attributes, or drawbacks? ii. Suppose that you propose an emission tax. Briefly explain how this policy would work and how it would deal with the environmental issue. What would be the positive attributes of this policy? What would be negative attributes, or drawbacks? iii. Suppose that you propose a Cap-and-Trade system. Briefly explain how this policy would work and how it would deal with the environmental issue. What would be the positive attributes of this policy? What would be negative attributes or drawbacks?

1. Think of an environmental problem (e.g., climate change, acid rain, agricultural chemical run-offs, water pollution, air pollution, etc.) that seems interesting or urgent to you. a. Briefly describe this problem. What causes it? What are the potential short-term and long-term impacts? b. Suppose that you are a policy maker and you are in charge of implementing a policy dealing with this problem. i. Suppose that you propose a standard. Briefly explain how this policy would work and how it would deal with the environmental issue. What would be the positive attributes of this policy? What would be negative attributes, or drawbacks? ii. Suppose that you propose an emission tax. Briefly explain how this policy would work and how it would deal with the environmental issue. What would be the positive attributes of this policy? What would be negative attributes, or drawbacks? iii. Suppose that you propose a Cap-and-Trade system. Briefly explain how this policy would work and how it would deal with the environmental issue. What would be the positive attributes of this policy? What would be negative attributes or drawbacks?

Brief Principles of Macroeconomics (MindTap Course List)

8th Edition

ISBN:9781337091985

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter2: Thinking Like An Economist

Section: Chapter Questions

Problem 10QR

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