Most economists agree that an effective policy for reducing GHG emissions involves placing a price on GHG emissions. Explain the economist's view. (2 marks)

A country's comparative advantage is a dynamic and not a static concept. Explain why you agree or disagree.(2 marks)

Tariffs and import quotas both produce deadweight losses for the economy. Which one imposes the larger deadweight loss? Explain why (2 marks)

Bees pollinate plants and are responsible for bringing a portion of the food we eat. Insecticides are, by their nature, toxic to bees. Farmers use insecticides, which are toxic for bees, to control unwanted insects in the production of crops. Identify any divergence between social and private costs in the use of insecticides in farm operations.(2 marks)