Evaluate the potential trade-offs between environmental protection and other macroeconomic objectives
Edexcel A-Level Economics 25 Mark Question
It has been estimated that if climate change led to the world’s temperature rising 2.5°C compared to the temperature in 2010, then global GDP per capita would be 15% lower by 2100. If temperatures rise by 4°C compared to the temperature in 2010, then by 2100 global GDP per capita would decline by more than 30%.. Evaluate the potential trade-offs between environmental protection and other macroeconomic objectives. (June 2021)
Plan
- Paragraph 1
- Argument: one trade-off is between environmental protection and unemployment
- Diagram: decrease in AD
- Evaluation: an increase in employment can generate greater tax revenue which can be used to increase spending on renewable energy and environmental protection.
- Paragraph 2
- Argument: another trade-off is between environmental protection and the current account
- Diagram:
- Evaluation: this would not be the case if all countries focused equal effort on environmental protection
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