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Difference between a variable that measures a flow

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Reference no: EM131940204

(a) Conceptually what is the difference between a variable that measures a flow and one that measures a stock?

(b) What is meant by the growth equation in resource economics?

(c) What is the formula for the growth equation in the case of a non-renewable resource?

(d) What is the intertemporal externality that arises in the case of a non-renewable resource? 

Reference no: EM131940204

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