5 Briefly discuss some of the problems of environmental command-and-control regulations. 6 Population of Switzerland is 8,455,804. Its GDP is 617 billion in local currency, the Swiss Franc which is worth $1.10 (or 1 U.S. dollar is 0.91 Swiss Franc). Calculate Switzerland GDP is U.S. Dollar. What's GDP per capita in the U.S. Dollar? In your opinion and in comparison to other countries, what does this GDP per capita indicate? Show all work. Command-and-Control Regulation Although such regulations have helped to protect the environment, they have three shortcomings: V they provide no incentive to go beyond the limits they set V they offer limited flexibility in where and how pollution will be reduced V and they often have politically motivated loopholes Worker Productivity and Economic Growth Productivity can be measured as the level of GDP per worker or GDP per hour. The rate of productivity growth is the primary determinant of its rate of long-term economic growth. At time zero, GDP = 100. Apply the formula: GDP at starting date (1 + growth rate of GDP)vas = GDP at end date %3D Time Period Growth Rate 10 Years 25 Years 50 Years 1% 110 128 164 3% 134 209 438 5% 163 338 1,147 8% 216 685 4,690 5 Briefly discuss some of the problems of environmental command-and-control regulations. 6 Population of Switzerland is 8,455,804. Its GDP is 617 billion in local currency, the Swiss Franc which is worth $1.10 (or 1 U.S. dollar is 0.91 Swiss Franc). Calculate Switzerland GDP is U.S. Dollar. What's GDP per capita in the U.S. Dollar? In your opinion and in comparison to other countries, what does this GDP per capita indicate? Show all work. Command-and-Control Regulation Although such regulations have helped to protect the environment, they have three shortcomings: V they provide no incentive to go beyond the limits they set V they offer limited flexibility in where and how pollution will be reduced V and they often have politically motivated loopholes Worker Productivity and Economic Growth Productivity can be measured as the level of GDP per worker or GDP per hour. The rate of productivity growth is the primary determinant of its rate of long-term economic growth. At time zero, GDP = 100. Apply the formula: GDP at starting date (1 + growth rate of GDP)vas = GDP at end date %3D Time Period Growth Rate 10 Years 25 Years 50 Years 1% 110 128 164 3% 134 209 438 5% 163 338 1,147 8% 216 685 4,690 5 Briefly discuss some of the problems of environmental command-and-control regulations. 6 Population of Switzerland is 8,455,804. Its GDP is 617 billion in local currency, the Swiss Franc which is worth $1.10 (or 1 U.S. dollar is 0.91 Swiss Franc). Calculate Switzerland GDP is U.S. Dollar. What's GDP per capita in the U.S. Dollar? In your opinion and in comparison to other countries, what does this GDP per capita indicate? Show all work. Command-and-Control Regulation Although such regulations have helped to protect the environment, they have three shortcomings: V they provide no incentive to go beyond the limits they set V they offer limited flexibility in where and how pollution will be reduced V and they often have politically motivated loopholes Worker Productivity and Economic Growth Productivity can be measured as the level of GDP per worker or GDP per hour. The rate of productivity growth is the primary determinant of its rate of long-term economic growth. At time zero, GDP = 100. Apply the formula: GDP at starting date (1 + growth rate of GDP)vas = GDP at end date %3D Time Period Growth Rate 10 Years 25 Years 50 Years 1% 110 128 164 3% 134 209 438 5% 163 338 1,147 8% 216 685 4,690