EBK PRINCIPLES OF MACROECONOMICS
12th Edition
ISBN: 9780134079592
Author: Oster
Publisher: YUZU
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Question
Chapter 16, Problem 3.1P
To determine
The inverted-U relationship between the growth and pollution.
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Sweden is a very small yet wealthy country that has been recognized as the most sustainable country in the world. In 2016, the population of Sweden was 10 million, the total GDP was $515 billion, and the CO2 emissions were about 45 million tons. What was the greenhouse-gas intensity for Sweden in 2016?
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____ the increased sales of Cigar Aficionado magazine.
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The economic activity of a country is often quantified as the gross domestic product (GDP), which is the sum of private and government consumption, investments, and net exports (the value of exports minus the value of imports). For a developed country such as the United States, economists might see a GDP growth rate of 3% a year as reasonable. However, production and consumption create some pollution. By how much would pollution per dollar of GDP have to decline for pollution levels 50 years from now to be the same as current levels, assuming a 3% annual growth rate of GDP? In 75 years? In 100 years? (Hint: Let the current pollution level be 1 and find out what the future pollution level would be).
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