1. How does the equilibrium in the Gordon model relate to a potential goal to maximize rents? 2. Can you analyze numerical models of open access and optimal management? 3. Can you calculate the present value of a stream of benefits and costs that occur over time? 4. Why is capital substitutability important? 5. What does Arrow et al. (2004) mean by “over consumption?” How is it related to sustainability? 6. Can you graphically analyze dynamic natural resource problems in a two-period setting? 7. For what environmental problems do EKCs seem to exist? Are they inevitable? 8. In the Carson (2010) summary article, why has it proved hard to convincingly identify EKCs for most environmental problems? 9. Why might we worry about population growth? 10. Can you analyze fertility decisions using the model we discussed in class? 11. What policy implications can we draw from the possibility that large family sizes may be rational? How does family planning fit in within this framework?