THE GROSS DOMESTIC PRODUCT AND.pdf - Wikiprogress

constrained hours per year they aren‟tworking times $11.20- Cost of ConsumerDurablesSpending on cars, furniture, etc. (offsetsServices of Consumer Durables)- Cost of Commuting Out-of-pocket cost plus value of time spentcommuting- Cost of HouseholdPollution AbatementSpending by households on pollutionabatement equipment –mostly for vehicles- Cost of Automobile Vehicle damage and hospital costsAccidents- Cost of Water Pollution Loss of water quality plus siltation- Cost of Air Pollution Damage to vegetation, structures andaesthetics, soiling of cloth materials, acidrain, loss of urban property values (not healthor mortality cost)- Cost of Noise Pollution Reduced quality of human environment- Loss of Wetlands Annualized value of the cumulative loss ofservices (purification, flood control, wildlifehabitat) with value increasing exponentiallyas a result of scarcity value- Loss of Farmland Annualized value of the cumulative loss ofsoil productivity based on assumption thatinherent soil fertility will have greater valuein the future as fertilizer and other inputsbecome more costly (soil erosion, soilcompaction, urbanization)- Depletion ofAnnualized value of the cumulative loss ofNonrenewable Resources potential services of resources that have beenpermanently lost (measured as increasing costof what would be required to replace thecumulative quantity of energy resourcesproduced domestically)- Cost of Long-termEnvironmental DamageCurrent value of the cumulative expectedcosts of future damage from climate changeand nuclear waste management (fossil fueland nuclear energy consumption times fixeddollar value per unit)- Cost of Ozone Depletion Cumulative world production of CFC-11 and- Loss of Old-GrowthForestsCFC-12 times fixed dollar amount per unitCumulative value of the loss of ecologicalservices from old-growth forest plus damagefrom forest roads+ Net Capital Investment Change in stock of fixed capital minuschange in stock of capital required for new