Econ Land typically measures their country's performance using Gross Domestic Product (GDP), as most countries do. As their economic advisor, you have recently clued them in to alternative measures that include items GDP does not, such as the depreciation of natural capital and ham done from pollution. Below are some of the relevant numbers for Econ Land's economy. https://online.smcedu/courses/45798/quizzes/227795 17/32 12/17/21, 7:05 PM Final: 2021 Fall - ECON 4 ENVRN 4 (3505 3508) [9.16]- Urutia - (O) Economic Data Gross Domestic Product $50 billion Depreciation of human-made capital $5 billion Timber Data End of year timber stocks (feet) 2 billion End of year timber price/foot $5 Start of year timber stocks (feet) 3 billion Start of year timber price/foot $4 Oil Data End of year oil stocks (barrels) 150 million End of year oil price/barrel $50 Start of year oil stocks (barrels) 200 million Start of year oil price/barrel $45 Carbon Data CO2 Emissions (tons) 30 million Damage/ton $50 Other Data Defensive expenditures $1 billion Biodiversity loss $15 billion https://online.sme edulcourses/45798/quizzes/227795 18/32 12/17/21, 7:05 PM Final: 2021 Fall - ECON 4 ENVRN 4 (3505 3508) [9.16]- Urutia - (O) Use the numbers in the table to calculate Econ Land's Green GDP.
Econ Land typically measures their country's performance using Gross Domestic Product (GDP), as most countries do. As their economic advisor, you have recently clued them in to alternative measures that include items GDP does not, such as the depreciation of natural capital and ham done from pollution. Below are some of the relevant numbers for Econ Land's economy. https://online.smcedu/courses/45798/quizzes/227795 17/32 12/17/21, 7:05 PM Final: 2021 Fall - ECON 4 ENVRN 4 (3505 3508) [9.16]- Urutia - (O) Economic Data Gross Domestic Product $50 billion Depreciation of human-made capital $5 billion Timber Data End of year timber stocks (feet) 2 billion End of year timber price/foot $5 Start of year timber stocks (feet) 3 billion Start of year timber price/foot $4 Oil Data End of year oil stocks (barrels) 150 million End of year oil price/barrel $50 Start of year oil stocks (barrels) 200 million Start of year oil price/barrel $45 Carbon Data CO2 Emissions (tons) 30 million Damage/ton $50 Other Data Defensive expenditures $1 billion Biodiversity loss $15 billion https://online.sme edulcourses/45798/quizzes/227795 18/32 12/17/21, 7:05 PM Final: 2021 Fall - ECON 4 ENVRN 4 (3505 3508) [9.16]- Urutia - (O) Use the numbers in the table to calculate Econ Land's Green GDP.
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter19: The Macroeconomic Perspective
Section: Chapter Questions
Problem 25CTQ: Cross country comparisons of GDP per capita typically use purchasing power parity equivalent...
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