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Given the nature of the economic risk associated with climate change, people will what kind of risk preferences are most likely to support strong regulatory policies aimed at reducing emissions of greenhouse gases?

  A.

People who are risk-loving.
  B.

People who are risk neutral.
  C.

People who are risk averse.

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Related questions

QUESTION 5

Economic theory predicts that the introduction of child support enforcement programs will:

  A.

reduce the cost of providing welfare benefits to the states that provide such programs.
  B.

increase the labor supply of some welfare recipients who were not working prior to the introduction of this program.
  C.

have no effect on the labor supply of some welfare recipients.
  D.

All of the above are correct.

2 points

QUESTION 6

In the hedonic pricing model of job risk, a flatter isoprofit curve indicates that:

  A.

the cost of reducing risk is relatively high.
  B.

the cost of reducing risk is relatively low.
  C.

most individuals are not risk-averse.
  D.

None of the above is correct.

Question 1. Suppose that a decision maker is confronted with a choice between (i) the certainty of a $200 gain and (ii) a gamble where there is a 0.40 probability that he will gain $600 and a 0.60 probability that he will lose $20. Moreover, suppose that the utilities he attaches to -$20, $200, and $600 are -5, 10 and 25 respectively. Which course of action will he choose?

(a) .The gamble, since the expected utility from the gamble is greater than O.

(b) The gamble, since the expected utility from the gamble exceeds that from the certainty of a $200 gain.

(c) The gamble, since the expected monetary value of the gamble exceeds that from the certainty of a $200 gain.

(d) The certainty 'of a $200 gain, since the expected utility from the certainty of a $200 gain exceeds that from the gamble.

(e) He will be indifferent between the two, since both actions yield the same expected utilities.


2. An increase in monetary gain of $1 is associated with smaller and smaller increases in utility as the monetary gain increases in size. People with utility functions of this sort are (a) risk neutral

(b) risk averters

(c) risk lovers

(d) utilitarians


3. An increase in monetary gain of $1 is associated with larger and larger increases in utility as the monetary gain increases in size. People with utility functions of this sort are

(a) risk neutral

(b) risk averters

(c) risk lovers

(d) utilitarians


Question 4. You are trying to decide whether or not to join your friends down at the local refreshment centre. Unfortunately, you have an economics exam tomorrow. You have tried to keep up with the assignments and believe that if you do not study any more you have a 0,8 chance of getting at least a 70 on the exam, If you are lucky, however, and the lecturer does not ask any of the material you are still confused about, you will get a 90 (20% chance). However, if you stay horne and study you have a 90% chance of getting an 85 and a l0%'chance of getting a 75, If you wish to maximize the expected points on this exam, what should you do?


Question 5. Bud Weiser's Neumann-Morganstern utility function can be represented by the following equation U = 9 + M - 0.01M^2 where U is utility and M is monetary gain (in thousands of dollars), He has the opportunity to invest $20,000 in The Bourbon Cowboy Bar and Grill. He believes that there is a 2/3 chance that he will lose his entire investment and a 1/3 chance that he will gain $30,000.

(i) If he makes the investment, what is his expected utility?

(ii) Should he make the investment?

Energy Choices

Worldwide energy consumption varies dramatically, but the impacts are shared by all. The most commonly used fuel sources for energy around the world are the fossil fuels: coal, oil, and natural gas. Combustion of fossil fuels releases pollutants to the atmosphere, where the emissions from all countries combine to cause local, regional, and global issues. One of the primary pollutants of concern is carbon dioxide, a greenhouse gas. Carbon dioxide emissions are responsible for climate change and governments around the world have taken steps to control pollution, but not all countries are successful in reducing carbon emissions.

While all countries produce pollution and emit greenhouse gasses, the emissions are greatly unequal across the globe. Consider what kinds of factors would determine how much energy is used by a country, a region, a household, or an individual. What factors would influence the fuel choices made by these people and institutions?

Conduct research to determine the common fuel sources, emissions, and total energy consumption by the United States and a developing country of your choice, such as China, India, or Brazil.

CIA. (2015). The world factbook. Retrieved fromhttps://www.cia.gov/library/publications/the-world-factbook/

U.S. Energy Information Administration. (2015). International energy statistics. Retrieved fromhttp://www.eia.gov/cfapps/ipdbproject/IEDIndex3.cfm?tid=44&pid=44&aid=2

· What are the primary sources of emissions? What is the industrial or agricultural profile of the country?

· What are the similarities and differences in the fuel sources, emissions, and consumption between the two countries?

· What are the countries’ levels of involvement in worldwide emissions regulations?

· Discuss solutions or regulations to energy use in high-demand countries. How can high-use and low-use countries work together to reduce overall emissions?

· In working together to make these reductions, how would you address possible cultural differences and diversity concepts that will emerge because of this partnership? Describe how low and high use countries can bridge cultural differences through strategic partnerships.

· Support your arguments with documented evidence from credible sources using APA formatting and an APA style reference page.

I am looking for some notes on how to get this essay of 1000 words or more started. Please help by giving good detailed notes for each question. I would really appreciate some help so I can get started on making my research paper. Any help is much appreciated I am stuck on how to approach this topic!

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