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The greenhouse gas emission is estimated to grow in the medium and long term. In order to minimize the negative effects of global climate change, it is required to stabilize the concentration of greenhouse gases in the atmosphere through prompt and substantial cut in greenhouse gas emissions. For this end, it is indispensable that every major emitter sets some legally binding target for cuts in greenhouse gas emissions. Developed countries, which have achieved economic growth through emitting large amounts of greenhouse gas, must be responsible to take the initiative in reducing emissions. Moreover, it is important that developing countries, whose greenhouse gas emissions are predicted to eclipse those in the developed countries soon, participate and reduce the growth of greenhouse gas emissions.
Under such circumstances, some countries seek to adopt a new and comprehensive legal document that establishes a fair and effective international framework in which all major economies participate. They argue that, besides the controversial issues of equity, equal footing, and burden sharing, any programs without some major emitters are less effective and can even ruin the cuts achieved by the participants.
Explain how a non-broad-based framework is less effective in combating global climate change.
Direct control and Moral Suasion Without actually using the above weapons, the central bank can attempt simply to use "moral suasion" to persuade the commercial banks to restr
A cost-push inflation have as a result of workers' attempts to push up their wages. Thus, inflation does not have to be monetary phenomenon." Is this statement true, false, or unce
Arc Elasticity Is the average elasticity between two given points on the curve, i.e. Because of the negative relationship between price and quantity demanded, pr
A city has two newspapers. Demand for either paper depends on its own price and the price of its rival. Demand functions for paper A & B respectively, measured in tens of thousands
Q. What is Internal Diseconomies of Scale? Internal economies of scale exist only up to a certain size of the plant. Size of plant is called the optimum plant size since with t
Fundamental of managerial economic
A profit-maximizing firm faces the following options for hiring workers: a) Assume the firm has limited space so that it can only hire one worker. Which type of employee sh
Ask questiHow does economic theory contribute to managerial decisions? on #Minimum 100 words accepted#
Balance of Payments Perhaps the most immediate reason for bringing in protection is a balance of payment deficit. If a country had a persistent deficit in its balance of paym
The relationship between, total expenditure and price elasticity of demand has summed up in the below table: Table: Elasticity and Consumption Expenditure Elas
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