Chapter 16, Problem 2DQ

How many dollars in subsidies have gone to fossil fuels (oil, coal, and natural gas) for every dollar that has gone to renewable energy (excluding hydropower)?

Suppose a small country, Country X, is considering implementing a Carbon Tax to address environmental concerns and reduce carbon emissions. The government believes that such a tax will have an impact on the country's economic performance. Given the following data: Current annual carbon emissions: 500,000 metric tons The government proposes a carbon tax of $30 per metric ton of carbon emitted. Calculate the potential change in annual carbon tax revenue if the country successfully reduces its carbon emissions by 20% after the implementation of the Carbon Tax.

Most economists favor a tax on carbon because Group of answer choices -The costs of carbon emissions have been underestimated by the market system and the tax would help businesses and consumers make better choices -Economists are in favor of anything that helps the government -That is not true. Most economists question climate change. -Taxes help to increase corporate profits

Explain how each of the following work: a green tax, a subsidy, and an emissions trading system.

By what percentage is the U.S. population projected to increase between 2014 and 2030? Do you think that NOX emissions will increase, decrease, or remain the same over that period of time? Why?

Carbon dioxide emissions have been linked to increased air pollution. The following table lists some possible public policies aimed at reducing the amount of carbon dioxide in the air.

You have just been elected governor of a medium-sized U.S. state. Citizens want you to take bold action to reduce greenhouse gas emissions— but they do not want prices of gasoline or electricity to rise. Industries in your state are wary of emissions reductions being required of them but are willing to explore ideas with you. The state legislature will support your efforts as long as you remain popular with voters. The state to your west has just passed ambitious legislation mandating steep emissions cuts. The state to your east has joined a regional emissions trading consortium. The state to your north has just established a revenue-neutral carbon tax. What actions will you take in your first year as governor, and why? What effects would you expect each action to have?

Define public and private goods

Determine whether each of the following goods is a private good, a public good, a common resource, or a club good.   Private Good Public Good Common Resource Club Good A cabana along a beach that is open to the public           A large, beautiful statue in a park           A new SUV that you use to drive your friends around town