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Chapter 6: Q. 27 (page 161)

How might you measure a 鈥済reen鈥� GDP?

Short Answer

Expert verified

By deducting net natural capital consumption from conventional GDP, green GDP is computed.

Step by step solution

01

Green GDP

Resource depletion, environmental deterioration, and environmental protection measures should be subtracted from conventional GDP in order to calculate a "green" GDP.

02

Explanation

In summary, green GDP is calculated by subtracting the cost of economic loss due to environmental pollution and natural resource deterioration as well as resources spent on environmental restoration from conventional GDP.

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Most popular questions from this chapter

Cross-country comparisons of GDP per capita

typically use purchasing power parity equivalent

exchange rates, which are a measure of the long-run equilibrium value of an exchange rate. In fact, we used PPP equivalent exchange rates in this module. Why could use market exchange rates, which sometimes change dramatically in a short period of time, be misleading?

What are typical GDP patterns for a high-income

an economy like the United States in the long run and the short run?

Is it possible for GDP to rise while at the same time per capita GDP is falling? Is it possible for GDP to fall while per capita GDP is rising?

List some of the reasons why economists should

not consider GDP an effective measure of the standard of living in a country.

Should people typically pay more attention to their

real income or their nominal income? If you choose the latter, why would that make sense in today鈥檚 world? Would your answer be the same for the 1970s?
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