Answer the following questions in own words. ch-10
What does exponential growth mean? How is it distinct from linear growth?
Consider a population that is growing exponentially, in which year will the population have the most yearly growth, from years 1 to 2 or year 39 to 40?
What is a doubling time? Why is this metric useful to consider?
Why is it hard for people to understand exponential growth intuitively?
Describe the concept of discounting.
If I offered you $1000 today or $1000 one year from today, which option would you choose? Explain your answer?
What is the concept of growth discounting?
Define the concept of the social cost of carbon. How is this concept useful to address climate change?
When considered over the past century, people living today are much more affluent than people living 100 years ago in 1923. Can we be sure that people living 100 years from now in 2123 will be much more affluent than we are today? Explain your answer.
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