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As you have learned in Chapter 16, global warming is taking place. Some sources estimate that the temperature on Earth will increase about 0.5 degrees Celsius over a 100-year period. Although scientists do not agree on the amount of increase, let's presume that this will result in an approximate seven-inch rise in sea level. If a national park is located at twenty inches above sea level, when approximately will it be fully submerged?
Voting Structure
The method or system used to carry out the process of voting or making decisions within an organization or a country.
Economic Efficiency
The optimal distribution of resources in a society, minimizing waste and maximizing value.
Government Failure
A situation in which the structure of incentives is such that the political process, including democratic political decision-making, will encourage individuals to undertake actions that conflict with economic efficiency.
Market Failure
A situation in which the structure of incentives is such that markets will encourage individuals to undertake activities that are inconsistent with economic efficiency.
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