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Problem set 5 questions

Problem set 5 questions - ECON 162B 90 91 Spring 2008...

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ECON 162B – 90, 91 Kenny Christianson Spring 2008 due: March 19 PROBLEM SET NUMBER FIVE 1. Go to the following website to read about the alternative measure of economic welfare developed by the Friends of the Earth: http://www.foe.co.uk/campaigns/sustainable_development/progress From there, read the “Introduction”, “Replacing GDP”, and “ISEW explained”. a. According to the website, is GDP a good measure of economic welfare? Why or why not? b. Briefly, what is the Index of Sustainable Economic Welfare? How is it calculated? Is it a better measure of the standard of living? Why or why not? 2. Go to the following website to determine your global footprint: www.myfootprint.org After completing the exercise contained on the site, answer the following questions: a. What is your global (or ecological) footprint? b. What are the factors that contribute to your global footprint? c. Why do people from New York City tend to have lower global footprints than others?
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