Loading...

Messages

Proposals

Stuck in your homework and missing deadline? Get urgent help in $10/Page with 24 hours deadline

Get Urgent Writing Help In Your Essays, Assignments, Homeworks, Dissertation, Thesis Or Coursework & Achieve A+ Grades.

Privacy Guaranteed - 100% Plagiarism Free Writing - Free Turnitin Report - Professional And Experienced Writers - 24/7 Online Support

Discussion Board

26/01/2021 Client: stephanie2 Deadline: 12 Hours

Analyze and comment on the "You're The Economist" box below. In calculating GDP, what items should be included and their values be added to GDP and what items should be subtracted from GDP? Under the current system, every dollar spent added to GDP and nothing subtracted from it. What kind of changes, if any, would you recommend? Please make your main answer minimum of 100 words). 



Is GDP a False Beacon Steering Us into the Rocks?

Suppose a factory in your community has been dumping hazardous wastes into the local water supply and people develop cancer and other illnesses from drinking polluted water. The Environmental Protection Agency (EPA) discovers this pollution and, under the federal “Superfund” law, orders a cleanup and imposes a fine for the damages. The company defends itself against the EPA by hiring lawyers and experts to take the case to court. After years of trial, the company loses the case and has to pay for the cleanup and damages.


In terms of GDP, an amazing “good” result occurs. The primary measure of national economic output, GDP, increases. GDP counts the millions of dollars spent to clean up the water supply. GDP even includes the health care expenses of anyone who develops cancer or other illnesses caused by drinking polluted water. GDP also includes the money spent by the company on lawyers and experts to defend itself against the EPA. And GDP includes the money spent by the EPA to regulate the polluting company.


Now consider what happens when trees are cut down and oil and minerals are used to produce houses, cars, and other goods. The value of the wood, oil, and minerals is an intermediate good implicitly computed in GDP because the value of the final goods is explicitly computed in GDP. Using scarce resources to produce goods and services therefore raises GDP and is considered a “good” result. On the other hand, don’t we lose the value of trees, oil, and minerals in the production process, so isn’t this a “bad” result?


The Bureau of Economic Analysis (BEA) is an agency of the U.S. Department of Commerce. The BEA is the nation’s economic accountant, and it is the source of GDP data cited throughout this text. Critics have called for a new measure designed to estimate the kinds of damage described above. These new accounts would adjust for changes in air and water quality and depletion of oil and minerals. These accounts would also adjust for changes in the stock of renewable natural resources, such as forests and fish stocks. In addition, accounts should be created to measure the effects of global warming and the destruction of the ozone layer.


figure

haak78/ Shutterstock.com

As explained in this chapter, a dollar estimate of capital depreciation is subtracted from GDP to compute national income (NI). The argument here is that a dollar estimate of the damage to the environment should also be subtracted. To ignore measuring such environmental problems, critics argue, threatens future generations. In short, are we really better off producing more things if that results in a less pristine environment? Perhaps conventional GDP perpetuates a false dichotomy suggesting there is a trade-off between economic growth and progress, and environmental protection and sustainability


Critics of this approach argue that assigning a dollar value to environmental damage and resource depletion requires a methodology that is extremely subjective and complex. For example, how do you measure the lost value of an extinct species? Nevertheless, national income accountants have not ignored these criticisms, and the National Academy of Sciences has reviewed BEA proposals for ways to account for interactions between the environment and the economy.

Homework is Completed By:

Writer Writer Name Amount Client Comments & Rating
Instant Homework Helper

ONLINE

Instant Homework Helper

$36

She helped me in last minute in a very reasonable price. She is a lifesaver, I got A+ grade in my homework, I will surely hire her again for my next assignments, Thumbs Up!

Order & Get This Solution Within 3 Hours in $25/Page

Custom Original Solution And Get A+ Grades

  • 100% Plagiarism Free
  • Proper APA/MLA/Harvard Referencing
  • Delivery in 3 Hours After Placing Order
  • Free Turnitin Report
  • Unlimited Revisions
  • Privacy Guaranteed

Order & Get This Solution Within 6 Hours in $20/Page

Custom Original Solution And Get A+ Grades

  • 100% Plagiarism Free
  • Proper APA/MLA/Harvard Referencing
  • Delivery in 6 Hours After Placing Order
  • Free Turnitin Report
  • Unlimited Revisions
  • Privacy Guaranteed

Order & Get This Solution Within 12 Hours in $15/Page

Custom Original Solution And Get A+ Grades

  • 100% Plagiarism Free
  • Proper APA/MLA/Harvard Referencing
  • Delivery in 12 Hours After Placing Order
  • Free Turnitin Report
  • Unlimited Revisions
  • Privacy Guaranteed

6 writers have sent their proposals to do this homework:

Instant Assignments
Financial Hub
Quick Mentor
Coursework Assignment Help
University Coursework Help
Helping Hand
Writer Writer Name Offer Chat
Instant Assignments

ONLINE

Instant Assignments

Good day dear client, I am a full-time freelance writer with years of experience. My strongest strengths are strong dedication to duty, reliability, quality and excellence. I am going to do an outstanding job for you, kindly PM me and let us commence. Thank you so much in anticipation of your positive response. Thank you very much.

$40 Chat With Writer
Financial Hub

ONLINE

Financial Hub

Hey, I have gone through your job posting and become very much interested in working with you.I can deliver professional content as per your requirements. I am a multi-skilled person with sound proficiency in the English language for being a native writer who worked on several similar projects of content writing and can deliver quality content to tight deadlines. I am available for both online and offline writing jobs with the promise of offering an incredibly responsive and supreme level of customer service. Thanks!

$40 Chat With Writer
Quick Mentor

ONLINE

Quick Mentor

Hey, I have gone through your job posting and become very much interested in working with you.I can deliver professional content as per your requirements. I am a multi-skilled person with sound proficiency in the English language for being a native writer who worked on several similar projects of content writing and can deliver quality content to tight deadlines. I am available for both online and offline writing jobs with the promise of offering an incredibly responsive and supreme level of customer service. Thanks!

$40 Chat With Writer
Coursework Assignment Help

ONLINE

Coursework Assignment Help

Hey, I have gone through your job posting and become very much interested in working with you.I can deliver professional content as per your requirements. I am a multi-skilled person with sound proficiency in the English language for being a native writer who worked on several similar projects of content writing and can deliver quality content to tight deadlines. I am available for both online and offline writing jobs with the promise of offering an incredibly responsive and supreme level of customer service. Thanks!

$40 Chat With Writer
University Coursework Help

ONLINE

University Coursework Help

Hi dear, I am ready to do your homework in a reasonable price.

$47 Chat With Writer
Helping Hand

ONLINE

Helping Hand

I am an Academic writer with 10 years of experience. As an Academic writer, my aim is to generate unique content without Plagiarism as per the client’s requirements.

$45 Chat With Writer

Let our expert academic writers to help you in achieving a+ grades in your homework, assignment, quiz or exam.

Similar Homework Questions

Thebarton community centre booking - Www businessballs com howardgardnermultipleintelligences htm - Sc4730 environmental science - Gift love cs lewis - Copenhagen 2025 climate plan - East lancs financial services - MT 10 - Dom casual sb bold italic - Medway messenger youth league - Glasbrook bros v glamorgan - How to find intensity of light - Priam painter women at a fountain house - Disadvantages of outdoor learning - Reef-building corals are classified as metamorphic - Integrated marketing communications examples red bull - Athenaze 3rd edition pdf - My papa's waltz thesis statement - How to select cells a3 through f3 in excel - Sociology chapter 8 quiz answers - Lexmark cs310dn printing dots - What is hoodooing in to kill a mockingbird - Randall corporation plans to borrow - Frederick douglass my escape from slavery summary - 4 rehn court redwood park - 4 4 practice graphing a function rule - Saint lucian creole french - Cfitrainer net test answers - Assume the following information about the market and jumpmasters stock - WEEK VI PTA - Flick weed scientific name - 1905 square end plate with 70 lever - Coomer v kansas city royals - Webmail qed qld gov au - Marketing plan for solar energy company - What are ford's core competencies - Wk 2 Individual Assignment - Create a Project Plan Draft [due Mon] - Persuading with numbers sue hum - National lgbti health alliance - Drink more water persuasive speech outline - Walt disney human resources case study - Me talk pretty one day claim - Soundtrack 8 mile movie - The cremation of sam mcgee lyrics - Ir spectrum of 2 methyl 2 butanol - Watch sugar cane alley - Albert einstein critical thinkers - Bravo 180s rate controller - Morgan stanley private bank mortgage - Acc coverplus extra application - Arriva bus times milton keynes 8 - Discussion - Lab 1 creating objects for the dartt offsite services database - Response to an inconvenient truth - HR discussion 8 Responses - Fault propagation fold animation - Tontine road day centre - Those winter sundays pdf - Life of pi author's note pdf - A letter to mrs roosevelt questions - History Econ - Facts about the eureka stockade for kids - 3001 reflections way virginia beach va - Red sox season ticket partner board - Royal marines swim test - What is naturalistic observation method - Petland santa clara - The investment detective case 17 - Unit 6 Assignment (BUS411) - Birmingham stuffed boy dead darrius - Cis7 - "implementation" model & "mental" model - 6 traits writing process - The heavenly christmas tree pdf - Homework 1 - Ethical dilemma essay outline - Annotated bibliography vs literature review - The breakfast club communication analysis - There are only 2 ways to live your life - Picot question examples infection control - B field of a toroid - The ____ shows the name and location of the item you have open. - Boost juice competitive advantage strategy - A company's competitive strategy deals with - Thematic synthesis essay - Got lactase blood glucose data analysis - Assignment: Group Processes and Stages of Formation - Chrome vs opera 2016 - Can someone do my Week 1 & Week 2 Discussion in Principles of Marketing? - 7 page criminal justice research paper due at midnight - I am my own grandpa - 25-27 merrigang street bowral - Columbian exchange essay - Cissp ale formula - South plains reese center - University of phoenix placement test - Context, Meaning, and Value - Identifying rocks and minerals worksheet - Research Article UploadAssignment - Select E-commerce industry and highlight the advancements Blockchain has had on that industry. - Taming the anger monster anne davidson