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Exam 19: Natural Resource and Energy Economics

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Question 41

Multiple Choice

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Unless people can benefit from conservation, there is a temptation to

A) delay resource extraction as long as possible.
B) extract and use resources at a constant rate.
C) extract and use resources as quickly as possible.
D) ban the extraction of nonrenewable resources.

E) B) and D)
F) A) and D)

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Question 42

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The total fertility rate of a nation is the

A) total number of children a woman in the nation is capable of having during her lifetime.
B) average number of children a woman in the nation is capable of having during her lifetime.
C) average number of children a woman in the nation is expected to have during her lifetime.
D) total number of women in the nation who are expected to have children during their lifetime.

E) A) and C)
F) All of the above

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Question 43

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In the case of conflict diamonds, the strict enforcement of property rights has led to too fast of a rate of extraction.

Just over half (55 percent) of U.S.electricity is generated from

Granting property rights to forestland tends to increase the rate at which the land is deforested.

As of 2016, the world's population is approximately

Melanie and Oli are competing Pacific halibut fishers.Both have been allocated ITQs that limit their catch to 1,000 tons of Pacific halibut each.Melanie's cost per ton is $20; Oli's cost per ton is $28.If the market price of Pacific halibut is $40 per ton, and Melanie and Oli both catch their quota, their combined profit will be

In electricity generation, it is most economically efficient to use a single energy source.

Population will necessarily fall if the

(Consider This) Garrett Hardin's tragedy of the commons best applies to which of the following issues?

Data from the U.S.Environmental Protection Agency on per capita trash generation in the United States indicate that since 1990 it has

The economic benefits of forests include provision of wildlife habitats, erosion prevention, and oxygen production.

Present value allows us to weigh the benefits and costs of using resources today or in the future.

Elephants are moving closer to extinction in places where they are treated as private property.Topic: Natural Resource Economics Topic: Renewable Resources

The era after the Industrial Revolution proved that it was impossible to have improved standards of living with large population growth.

Per capita energy use in the United States has remained fairly constant since 1980.Topic: Energy Economics Topic: Resource Supplies: Doom or Boom?

Many demographers expect world population to

Kara and Kyle are competing sockeye salmon fishers.Both have been allocated ITQs that limit their catch to 2,000 tons of sockeye salmon each.Kara's cost per ton is $8; Kyle's cost per ton is $12.If the market price of sockeye salmon is $15 per ton, what is the minimum amount per ton that Kara would have to offer Kyle to convince him to sell Kara his ITQs?

Recent studies indicate that as the price of a barrel of oil rises to $80, the use of biodiesel as an alternative fuel becomes economically viable.

Productive inputs that are actually or virtually fixed in supply are known as