Climate Change and Greenhouse Gases Quiz
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Questions and Answers

What is the definition of dynamic vulnerability in the context of climate change?

  • A system's reaction to climate change. (correct)
  • A measurement of market share in agriculture.
  • Changes in climate not caused by external factors.
  • A static representation of damage estimates.

How much of an increase in CO2 will be removed from the atmosphere within 30 years?

  • 30%
  • 50% (correct)
  • 90%
  • 70%

What is the estimated decay time for methane in the atmosphere?

  • 20-25 years
  • 5-7 years
  • 15-20 years
  • 9-12 years (correct)

What is the global warming potential of water vapor as a greenhouse gas?

<p>60% (B)</p> Signup and view all the answers

What is the value of the incoming solar radiation amount?

<p>1368 W/m^2 (D)</p> Signup and view all the answers

Which of the following represents radiative forcing?

<p>The amount of energy entering minus the energy leaving the atmosphere. (D)</p> Signup and view all the answers

In term of greenhouse gases ranked by radiative forcing, which gas is ranked first?

<p>CO2 (B)</p> Signup and view all the answers

What percentage of solar radiation is absorbed by the surface (short wave)?

<p>168 (B)</p> Signup and view all the answers

What is one major advantage of flexibility in achieving climate goals?

<p>It lowers costs and increases feasibility. (C)</p> Signup and view all the answers

Which of the following is NOT considered an impact accounted for in Integrated Assessment Models (IAMs)?

<p>Direct Feedbacks (B)</p> Signup and view all the answers

What is the result of decreased albedo due to melting ice and snow?

<p>Increased solar energy absorption (B)</p> Signup and view all the answers

Which non-market impact has been studied but is classified as not a tipping point in IAMs?

<p>Psychological and social costs (C)</p> Signup and view all the answers

What is the primary focus of climate detection methods?

<p>Identifying trends without explaining causes (D)</p> Signup and view all the answers

What does 'Use Value' represent in the context of economic value?

<p>Direct benefits from utilizing a resource. (A)</p> Signup and view all the answers

Which SRES scenario represents the lowest projected temperature increase by 2100?

<p>B1 (A)</p> Signup and view all the answers

Which of the following best defines 'Existence Value'?

<p>Value derived from knowing a resource exists. (B)</p> Signup and view all the answers

At the end of the century, which range of sea-level rise is projected in high emission scenarios?

<p>0.6-1.1 meters (D)</p> Signup and view all the answers

Which type of valuation utilizes surveys to determine willingness to pay for environmental goods?

<p>Contingent Valuation (A)</p> Signup and view all the answers

Which of the following is NOT a component of the overall range for RCPs?

<p>Emissions of ~20-120 Gt COâ‚‚/year (C)</p> Signup and view all the answers

In regards to temperature projections, which scenario is associated with continued reliance on fossil fuels?

<p>High Emission Scenarios (A)</p> Signup and view all the answers

What is the focus of non-market valuation?

<p>Determining cultural and recreational benefits (D)</p> Signup and view all the answers

What aspect of economic value is described as benefits deriving from ecosystem services?

<p>Indirect Value (B)</p> Signup and view all the answers

What does lapse rate feedback interact with to affect heat escape to space?

<p>Water vapor feedback (A)</p> Signup and view all the answers

What is the projected temperature increase associated with RCP2.6 by 2100?

<p>~1.5°C-2°C (D)</p> Signup and view all the answers

What is a primary benefit of adaptation in climate responses?

<p>It modifies damages to allow for more cost-effective responses. (B)</p> Signup and view all the answers

How does urban expansion affect dynamic vulnerability?

<p>It increases the need for constant adaptation measures. (D)</p> Signup and view all the answers

What is the effect of a higher discount rate in Cost-Benefit Analysis (CBA)?

<p>It makes short-term projects more appealing. (C)</p> Signup and view all the answers

What impact does a lower discount rate have on the Social Cost of Carbon (SCC)?

<p>It increases the SCC by emphasizing future damages. (D)</p> Signup and view all the answers

What does Equity CBA primarily focus on?

<p>Incorporating distributional impacts based on income or social factors. (C)</p> Signup and view all the answers

In what scenario does risk aversion occur concerning certain equivalent values?

<p>When a decision maker prefers certain outcomes over uncertain ones. (C)</p> Signup and view all the answers

What is the overall impact of adaptation according to the provided concepts?

<p>It facilitates flexible responses as knowledge and impacts evolve. (A)</p> Signup and view all the answers

What role does the declining discount schedule play in decision-making?

<p>It values future benefits and costs differently over time. (B)</p> Signup and view all the answers

What is the primary characteristic of risk aversion?

<p>A tendency to favor certain gains over risky outcomes (B)</p> Signup and view all the answers

What does the risk premium represent?

<p>The additional return expected from a riskier asset (C)</p> Signup and view all the answers

In the context of the Capital Asset Pricing Model (CAPM), how does high correlation between climate damages and consumption affect risk assessment?

<p>It increases perceived risks during recessions (D)</p> Signup and view all the answers

What differentiates efficiency from cost-effectiveness in economic terms?

<p>Efficiency maximizes welfare, whereas cost-effectiveness achieves goals cost-effectively (C)</p> Signup and view all the answers

In a cap-and-trade system, what is the role of permits?

<p>To allow companies to trade their emission rights (C)</p> Signup and view all the answers

How does a cap-and-trade system ultimately impact greenhouse gas emissions over time?

<p>It gradually reduces emissions through a decreasing cap (B)</p> Signup and view all the answers

What is the significance of lower discount rates in the context of high correlation between climate risks and economic downturns?

<p>They raise the value of future benefits from mitigation (A)</p> Signup and view all the answers

Which of the following best describes the mechanism of a cap and trade system?

<p>Limiting total emissions and allowing trade of permits (B)</p> Signup and view all the answers

What is the main purpose of a carbon tax?

<p>To incentivize businesses and individuals to reduce emissions (D)</p> Signup and view all the answers

Which statement best captures the concept of net present value (NPV)?

<p>Future payments converted to a single current value (D)</p> Signup and view all the answers

What does the discount factor (DF) signify in financial calculations?

<p>The present value of future cash flows (C)</p> Signup and view all the answers

What represents the social cost of carbon?

<p>The economic cost of damages from carbon emissions (C)</p> Signup and view all the answers

What is the main difference between command-and-control regulation and market-based regulation?

<p>Command-and-control regulation mandates specific actions, while market-based relies on economic incentives (B)</p> Signup and view all the answers

How does the Ramsey discount factor relate to future climate damages?

<p>It determines how future damages are valued in terms of economic growth (B)</p> Signup and view all the answers

What is a potential use for the revenue generated from a carbon tax?

<p>Reinvesting in clean energy projects (C)</p> Signup and view all the answers

Which of the following best explains the term 'initial distribution' in the context of permits?

<p>The allocation of permits that determines economic winners and losers (C)</p> Signup and view all the answers

Flashcards

Climate Change Detection

The process of identifying significant changes in climate patterns over time.

Climate Change Attribution

The process of determining the causes of detected climate changes, attributing them to human activities or natural factors.

SRES Scenarios

A set of scenarios used to assess the effects of different future greenhouse gas emission levels, representing various potential pathways.

RCP Scenarios

Scenarios with a focus on future climate change conditions, used to assess various future climates.

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Projected Climate Change Range

A range of potential future emissions, concentrations, and temperature changes projected through various scenarios.

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Projected Sea Level Rise

The projected rise in sea levels due to melting glaciers and ice sheets, affected by future emissions and warming.

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Projected Global Temperature Changes

Estimates of future global temperature changes based on different scenarios and mitigation efforts.

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Climate Feedback Mechanisms

Feedback loops that amplify or diminish the effects of climate change, affecting the rate of warming.

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Surface Reradiation

The portion of solar radiation absorbed by the Earth's surface, which is subsequently re-radiated as longwave radiation.

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Decay Time

The rate at which a substance breaks down or disappears from the environment; for example, the time it takes for half of a given amount of carbon dioxide to be removed from the atmosphere.

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Net Damages Function

A mathematical function that represents the net economic impact of climate change, taking into account both the damages caused by climate change and the potential benefits of adaptation.

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Dynamic Vulnerability

The change in a system's vulnerability over time, influenced by factors both related and unrelated to climate change.

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Radiative Forcing

The amount of energy imbalance in the Earth's energy budget due to the presence of greenhouse gases, effectively trapping heat.

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Incoming Solar Radiation

The amount of solar radiation received by the Earth's atmosphere per unit area.

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Reradiation Absorbed by Surface

The percentage of energy radiated from the Earth's surface that is absorbed by the atmosphere, primarily due to greenhouse gases.

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Agricultural Dynamic Vulnerability

A process where the vulnerability to climate change is affected by market factors, such as changes in the relative prices of agricultural goods or advancements in farming technology.

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What flexibility

The ability to make emission reductions through various methods or sectors, including energy, transportation, and land use, rather than focusing on a single approach.

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When flexibility

The concept that allows for phased emission reductions, adjusting timing of actions to achieve targets over time, balancing immediate and long-term goals.

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What kind of impacts are accounted for in IAMs?

Integrated assessment models (IAMs) are used to analyze the impacts of climate change, taking into account economic, energy, land use, social, and policy factors.

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What impacts have been studied but are not part of IAMs?

Impacts that are not traditional economic factors, including equity, psychological effects, indirect feedbacks, and tipping points often overlooked by IAMs.

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Use Value

The direct benefits derived from using a natural resource, such as food, water, or energy.

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Non-Use Value

Value assigned to a resource even without direct use, encompassing: existence value (knowing it exists), bequest value (preserving for future generations), and option value (future use potential).

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Indirect Value

Benefits derived from ecosystem services, such as climate regulation and water purification.

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Market Value

The estimated worth of goods and services traded in markets, reflecting their supply and demand dynamics.

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Risk Aversion

The tendency to prefer a certain, moderate gain over a riskier option, even if the riskier option might have a higher average payoff.

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Risk Premium

The extra return required from a risky investment compared to a risk-free investment.

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Correlation of Damages with Consumption

The relationship between the correlation of climate damages and economic activity is crucial for understanding the impact of climate change on economic outcomes.

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Risk Premium

The excess return required from an investment in a risky asset over that required from a risk-free investment.

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Cap and Trade

A system that limits total greenhouse gas emissions and allows companies to trade permits to emit. It encourages cost-effective emission reduction.

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CAPM (Capital Asset Pricing Model)

A framework used to analyze the relationship between an asset's risk and expected return. It can be adapted to understand the relationship between climate damages and consumption, identifying how climate risks affect economic outcomes.

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Efficiency

A focus on achieving the greatest benefit for the greatest number of people.

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Cost-Effectiveness

A focus on achieving a specific goal at the lowest possible cost.

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Carbon Tax

A price is set on greenhouse gas emissions with a fee charged for each ton of CO2 emitted. This makes fossil fuels more expensive promoting businesses and individuals to reduce emissions.

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Net Present Value (NPV)

The amount of money today that you'd be indifferent to receiving in the future.

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Discount Factor (DF)

A number between 0 and 1 that discounts future payments to reflect their value today. It is calculated as 1/(1+r)^t, where r is the discount rate and t is the number of years in the future.

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Discount Rate (DR)

The rate at which the value of future payments decreases each year. It reflects risk, opportunity cost, and time preference.

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Social Cost of Carbon

The economic cost of the damage caused by each ton of CO2 emitted.

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Command-and-Control Regulation

A policy tool that directly regulates actions or technologies to limit emissions. Examples include emission standards and technology mandates.

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Market-Based Regulation

A policy tool that uses market mechanisms to incentivize emissions reductions. Examples include carbon taxes and cap-and-trade systems.

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Ramsey Discount Factor

A way to value future climate damages by balancing future economic growth with intergenerational equity. This involves considering how much future people should be valued compared to people today, and how much the economy is expected to grow in the future.

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Flexibility in Adaptation

The ability to adjust responses to changing climate impacts and knowledge, allowing for more cost-effective and dynamic adaptation strategies.

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Cost-Benefit Analysis (CBA)

A valuation method that considers the value of future benefits or damages based on a chosen discount rate.

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Discount Rate in CBA

A rate used in CBA to discount future values, influencing the relative importance of short-term vs. long-term projects.

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Social Cost of Carbon (SCC)

The estimated cost of emitting one ton of carbon dioxide into the atmosphere, considering its impact on future climate damages.

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Equity Cost-Benefit Analysis (CBA)

A CBA that considers fairness by weighing costs and benefits based on income or social groups, ensuring equitable outcomes.

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Declining Discount Schedule

A discount rate that decreases over time, giving more weight to future generations and potentially incentivizing long-term climate action.

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Certainty Equivalent

A point where a decision-maker is indifferent between a certain outcome and a risky alternative with the same expected value.

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Study Notes

Dynamic Vulnerability

  • A change in a system affected by climate change
  • Changes in damage estimates from climate change
  • System changes that are not caused by climate change
  • Reactions to changes in climate

Agricultural Dynamic Vulnerability

  • Market share of goods
  • Technological progress affects how sensitive crops react to climate change

Decay Time of CO2

  • About 50% of a CO2 increase is removed from the atmosphere within 30 years
  • A further 30% is removed within a few centuries
  • The remaining 20% may stay in the atmosphere for thousands of years

Decay Time of Methane in Atmosphere

  • 9-12 years

Net Damages Function

  • D(T,A) = GD(T) - BA(T,A) + CA(A)

Discount Rate Table

  • Data not provided.

Incoming Solar Radiation Amount

  • 1368 W/m^2

Solar Radiation Absorbed by the Atmosphere

  • 168

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Description

Test your knowledge on climate change concepts, including dynamic vulnerability, greenhouse gases, and their impacts on global warming. This quiz covers key definitions, scientific measurements, and the role of various gases in climate systems.

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