Economics 401: Public Finance Fall 2016, Final You must label all graphs to reee
ID: 1128224 • Letter: E
Question
Economics 401: Public Finance Fall 2016, Final You must label all graphs to reeeive full credit. According to the New York Times, "Setting ambitious goals for producing energy from the sun, wind and r renewable sources, Hillary Rodham Clinton seized on an issue that inereasingly resonates with Democratic voters and sets up a stark contrast with the Republican presidential field. Quoting further While Mr. Obama's climate change goals, driven by regulations from the Environmental Protection Agency (E.P.A), would lift the nation's renewable power to about 20 to 25 percent, according to E.P.A estimates, the rest of the increase, experts said, will be impossible without new laws requiring renewable power." 1) The E.PA.'s first Administrator, William Ruckelshaus, declared that the agency had "a broad responsibility for research, standard-setting, monitoring and enforcement with regard to five environmental hazards: air and water pollution, solid waste disposal, radiation, and pesticides." From an economics perspective, why was it necessary to create the E.P.A. to deal with air and water pollution? Demonstrate and explain. (2) In addition to regulation, what other method can the government use to achieve its underlying goal with respect to air and water pollution? Demonstrate and explain.Explanation / Answer
1] Let's see the main Strategies of E. P. A.
1] Keeps our air clean
2] Helps to keep Water clean
3] Helps states keep their environments safe and healthy
4] Maintains the Superfund program
5] Ensures that every company in America follows the law to protect our clean air and water
6] Uses sound science to develop ways to help produce safer chemicals and protect us from the harmful ones
7] Fights for environmental justice
8] Reduces waste and helps clean up when harmful substances pollute our land!
9] Evaluates and curbs pesticide risks
10] Takes steps to combat the global climate crisis
Today the world is facing greater environmental problems and that is hampering our lives in all aspects. It is important to protect ourselves from environmental degradation. E.P.A. like agencies act like good economic investment for America. cleaner air and a growing economy have gone hand in hand. Economic welfare and economic growth rates are improved because cleaner air means fewer air-pollution-related illnesses, which in turn means less money spent on medical treatments and lower absenteeism among American workers. The study projects that the beneficial economic effects of these two improvements alone more than offset the economic impacts from expenditures for pollution control. One reason that environmental protection and a healthy economy can go hand in hand is that the money spent on reducing pollution does not disappear. It goes to companies that design, build, install, maintain and operate pollution-reducing processes and equipment. The contribution of the pollutant control industry to overall U.S. economic activity and growth should not be overlooked. Also if we examine clean envt cost effect on employment we can only see that there are no effects on employment. The economic cost of environmental regulation as abatement can increase productivity.
2] Govt can undergo various measures to control air & water pollution
1) Promotion of cleaner production processes.
2) Setting up of monitoring network for assessment of air and water quality
3) Installation of various monitoring devices by major industries
4) Preparation of action plan for sewage management and restoration of water quality in aquatic resources
5) Promotion of public transport network or alternative use of vehicles that do not create pollution like bicycles, electric cars etc.
6) Creating awareness among citizens via different campaigns using public reaching tools like social media or giving them rewards for eco-friendly behaviour.
7) Setting up more and more research institute and agencies for curbing air and water pollution
8) Use of research and technology to reduce pollutants, recycle or innovate to manage pollution or make use of available natural resources effectively. For eg. Israel has developed a technology where it cleans sea water to a water one can use for drinking purposes etc.
9) Govt can encourage auto manufacturers to develop electric vehicles
10) Coordinate with educational institutions for a school flag programme schools to display coloured flags corresponding to AQI (Air Quality Index) or WQI (Water Quality Index) levels for each day.
Hope this helps!
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