Economic Thinking Indicates That Efficient Adaptation Strategies to Reduce Harms

question 243

Multiple Choice

Economic thinking indicates that efficient adaptation strategies to reduce harms from future global warming will

• A) focus on reducing overall carbon emissions.
• B) emphasize changes like those imposed on prosperous nations by the Kyoto Treaty.
• C) focus on reducing the effects of serious problems that we know to exist.
• D) ensure that every precaution will be taken to reduce any possible risks for the future.

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Definitions:

Aggregate Demand

Collective appetite for goods and services in an economic system, pegged at a particular comprehensive price level for a fixed time frame.

Short-Run Aggregate Supply

The total output of goods and services that firms in an economy are willing to produce at different price levels in the short term, holding some input prices fixed.

Classical Theory

An economic theory that emphasizes the ideas that free markets can regulate themselves through the laws of supply and demand, positing minimal government intervention.

Short Run

A period in economics where at least one factor of production is fixed and cannot be varied to influence output.