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5. (10 points) Green Accounting: What are the common critiques of standard accounting measures such as GDP? Figure 8.2 Chapter 8 shows how the World

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5. (10 points) Green Accounting: What are the common critiques of standard accounting measures such as GDP? Figure 8.2 Chapter 8 shows how the World Bank calculates the Adjusted Net Savings are obtained starting from Gross National Savings. Discuss this figure. a. b. 15 -1 Depreciation of fixed capital 2 10 Education expenditure,_ 0 5 Depletion of natural resources 0 Pollution --1l damages Net saving! Adjusted Saving Saving pls net saving net saving education excluding expenditure pollution damages Source: World Bank, 2012 Note: GNI-gross national income. 5. (10 points) Green Accounting: What are the common critiques of standard accounting measures such as GDP? Figure 8.2 Chapter 8 shows how the World Bank calculates the Adjusted Net Savings are obtained starting from Gross National Savings. Discuss this figure. a. b. 15 -1 Depreciation of fixed capital 2 10 Education expenditure,_ 0 5 Depletion of natural resources 0 Pollution --1l damages Net saving! Adjusted Saving Saving pls net saving net saving education excluding expenditure pollution damages Source: World Bank, 2012 Note: GNI-gross national income

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