Why did the Kyoto Protocol have only a small impact on overall global greenhouse-gas emissions? Which two countries missed their targets by the largest amounts?

What will be an ideal response?


POSSIBLE RESPONSE: There are a host of factors that explain why the Kyoto Protocol had a small impact on overall global greenhouse-gas emissions. First, some industrialized countries did not meet their targets for emissions reductions. Canada's emissions increased about 20 percent from the 1990 base. However, it had committed to reducing emissions to about 6 percent below the 1990 level. For Australia, emissions were about 30 percent above the 1990 level. Second, the United States, which accounts for about a fifth of the world's greenhouse-gas emissions, did not take part in the agreement. In 2001, President George W. Bush indicated that the science was too uncertain for taking on such a costly process to reduce emissions. He also indicated that it was unacceptable that developing countries such as China had not made commitments. U.S. emissions increased to about 10 percent above their 1990 level. Third, greenhouse-gas emissions have continued to increase in many developing countries. Most important, emissions from China almost tripled from 1990 to 2010, so China now is the source more than a quarter of global greenhouse gas emissions.

Economics

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Under what situations will a colluding firm cheat?

What will be an ideal response?

Economics

Cooling systems Carl is the lead engineer on a smart HVAC cooling system that works with minimal energy and is voice activated. Given the revolutionary nature of the system, it took many failed tries to create a system that actually worked, a cost of

$30,000 . Now each unit sells for $6500 and it costs $5000 in raw materials and labor to produce. What costs should Carl take into consideration when deciding to service the order for an additional unit?

Economics

Refer to Figure 6.4. What area represents the decrease in consumer surplus when the price of computers increases from $1,000 to $1,500?



A. b

B. b + e

C. b + c

D. a + b

Economics

If an increase in the price of good X leads to an increase in the consumption of good Y, then goods X and Y are called:

A. substitutes. B. inferior goods. C. complements. D. normal goods.

Economics