Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

From a GDP perspective the 22 separate billion-dollar weather and climate disasters impacted the American economy in a positive and negative way in 2020. Each

From a GDP perspective the 22 separate billion-dollar weather and climate disasters impacted the American economy in a positive and negative way in 2020. Each disaster contributed to an increase in GDP in some way. While jobs may have been lost and GDP fell as an immediate result of the disaster, the reconstruction of roads, houses, factories, buildings, etc. over the following months and years will add jobs and increase GDP. In fact, after the reconstruction, the economic efficiency of the region most likely will increase. Therefore, climate warming and the economic disasters predicted from it can be an economic boon for the United States and we should not worry about climate change or its affect upon the economy. From an economic perspective comment on the fact that the measurement of GDP includes economic "bads". What are other examples of economic bads included in GDP

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Income Tax Fundamentals 2013

Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill

31st Edition

9781285586618

Students also viewed these Economics questions