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Flaws in Conventional System - Focus
The traditional measures focus mainly on goods and services that are bought and sold in the market and ignore the non-marketed goods and services provided by the natural assets. For example, forests provide many environmental services like flood control, protection from soil erosion, carbon sequestration and amenity values in addition to marketed products like timber and fuel-wood.
For many of the non-timber forest products (NTFP) provided by the forests there exists no market. The conventional national income accounts would only consider the economic contribution of forests and ignore the environmental services and the NTFP for which there exist no market. Similarly, the waste disposal services of the environment are not recorded in the national accounts.
1.Suppose you are interested in assessing the value of a statistical life for individuals. You ?nd a dataset on risk and wages. You consider running the following OLS regression.
Question: Awards for excellent performance are increasingly employed within the public service in many countries. These will or will not have a financial value. Performance-rel
What are the objectives of pubic finance
examine the efficiency of quantitative credit control instruments.
‘…Policies that promote residential mobility and increase the knowledge of the consumer-voter will improve the allocation of government expenditures in the same sense that mobility
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Q. Show the Traditional decision analysis? Traditional decision analysis rests on the key assumptions about the type of information available to the decision maker. Powerful B
An economy has two agents and two goods. Utilities are given by UA=min{xA,0.5yA} and UB=min{xB,0.5yB}. The total amount of X in the economy is 10. The total amount of Y is also 10.
what is frugal economy and government economy
Sustainability, more recently referred to as ‘sustainable development', came from the idea of integrating economic development and environmental protection. The concept is based on
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