Question 1

Many demographers expect world population to

Accepted Answer

A)   increase exponentially into the foreseeable future.
B)   decline from its current level in the next two decades.
C)   peak at 9 billion or fewer and then decline.
D)   plateau at around 7.5 billion and then start to increase rapidly.E) All of the above
F) A) and B)

Question 2

What is most likely to happen when no logger owns the property rights to a forest that is open to logging?

Accepted Answer

A)   It will be overlogged by loggers.
B)   It will be underlogged by loggers.
C)   It will be preserved for future use by loggers.
D)   It will become the common property of the government.E) B) and C)
F) A) and B)

Question 3

Per capita energy use in the United States has remained fairly constant since 1980.

Accepted Answer

A) True 
 B)False

Question 4

An oil company is considering drilling in the Gulf at a current cost of $300,000 with an expected profit of $500,000 in three years. The current market rate is 10 percent. Should the company make the investment?

Accepted Answer

A)   Yes, the future value of the profit is greater than the present value of the cost.
B)   No, the future value of the profit is less than the present value of the cost.
C)   Yes, the present value of the profit is greater than the present value of the cost.
D)   No, the present value of the profit is less than the present value of the cost.E) A) and B)
F) A) and C)

Question 5

(Consider This)  Which of the following best explains why wind and solar power have been slow to replace coal- and gas-based energy production?

Accepted Answer

A)   Energy production with coal and gas generates less pollution.
B)   Wind and solar energy availability is subject to large fluctuations because of the inability to store the power.
C)   Governments have heavily subsidized coal and gas energy plants, but have not subsidized wind and solar.
D)   Consumers are largely unwilling to buy power generated from wind and solar.E) None of the above
F) B) and C)

Question 6

TAC policies help reduce overfishing and reduce costs for fishers.

Accepted Answer

A) True 
 B)False

Question 7

Which of the following is not considered by demographers to be part of the three-step demographic transition?

Accepted Answer

A)   simultaneous low birthrates and death rates
B)   simultaneous high birthrates and death rates
C)   low birthrates and high death rates
D)   high birthrates and low death ratesE) A) and B)
F) B) and C)

Question 8

If the property rights for forests are clear and enforced, then

Accepted Answer

A)   they will become common property.
B)   governments will not be able to overtax them.
C)   owners have profit incentives to harvest slowly over time.
D)   the logging of the forest will increase at an unsustainable rate.E) B) and D)
F) All of the above

Question 9

The average person in the United States generates about 10 pounds of trash per day.

Accepted Answer

A) True 
 B)False

Question 10

(Last Word)  Most economists view economic growth as

Accepted Answer

A)   good for the environment because richer economies spend more on environmental protection.
B)   bad for the environment because richer economies extract resources at a faster rate.
C)   good for the environment because richer economies produce fewer chemicals.
D)   bad for the environment because people in richer economies tend to care less about the environment.E) A) and D)
F) C) and D)

Question 11

A mining company has the opportunity to extract from a coal reserve this year for a profit of $40 per pound. The current market rate of interest is 5 percent. The present value of this future extraction is

Accepted Answer

A)   $36.
B)   $38.
C)   $40.
D)   $42.E) B) and C)
F) A) and D)

Question 12

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, what is the minimum amount per ton that Melanie would have to offer Oli to convince him to sell Melanie his ITQs?

Accepted Answer

A)   $8
B)   $10
C)   $20
D)   $12E) A) and B)
F) B) and C)

Question 13

Relative to 1800, today in the world there are

Accepted Answer

A)   more people but lower per-capita consumption.
B)   more people but the same per-capita consumption.
C)   more people and higher per-capita consumption.
D)   the same number of people but higher per-capita consumption.E) None of the above
F) A) and C)

Question 14

Which of the following policies has succeeded in reducing fishery catch sizes?

Accepted Answer

A)   limiting the length of the catch season
B)   limiting the number of boats allowed in a given area
C)   limiting catch size (TA
C)  
D)   All of the other possible answers are correct.E) None of the above
F) B) and C)

Question 15

Renewable energy sources account for about 50 percent of U.S. electricity generation.

Accepted Answer

A) True 
 B)False

Question 16

In the United States in 2014, one million BTUs of energy yielded worth of goods and services (in 2009 dollars) .

Accepted Answer

A)   $57.90
B)   $63.09
C)   $127.37
D)   $162.07E) None of the above
F) All of the above

Question 17

Which of the following is the best example of a market failure to conserve a resource resulting from poorly defined property rights?

Accepted Answer

A)   preserving elephants in Africa
B)   drilling for oil in Saudi Arabia
C)   mining of oil shale in Canada
D)   hunting of deer in the United StatesE) A) and D)
F) A) and C)

Question 18

Commodity prices are relatively stable from year to year.

Accepted Answer

A) True 
 B)False

Question 19

As nations become richer, they tend to pollute

Accepted Answer

A)   less and offer better protection for sensitive ecosystems.
B)   less but offer worse protection for sensitive ecosystems.
C)   more and offer worse protection for sensitive ecosystems.
D)   more but offer better protection for sensitive ecosystems.E) C) and D)
F) All of the above

Question 20

In the United States and parts of Western Europe, the amount of land covered by forests is increasing.

Accepted Answer

A) True 
 B)False

Exam 19: Natural Resource and Energy Economics

In the United States in 2014, one million BTUs of energy yielded worth of goods and services (in 2009 dollars) .

Correct Answer
verified

Correct Answer
verified

Many demographers expect world population to

Correct Answer
verified

If the property rights for forests are clear and enforced, then

Correct Answer
verified

(Last Word) Most economists view economic growth as

Correct Answer
verified

What is most likely to happen when no logger owns the property rights to a forest that is open to logging?

Correct Answer
verified

Which of the following is the best example of a market failure to conserve a resource resulting from poorly defined property rights?

Correct Answer
verified

Relative to 1800, today in the world there are

Correct Answer
verified

Which of the following policies has succeeded in reducing fishery catch sizes?

Correct Answer
verified

Per capita energy use in the United States has remained fairly constant since 1980.

Correct Answer
verified

Renewable energy sources account for about 50 percent of U.S. electricity generation.

Correct Answer
verified

In the United States and parts of Western Europe, the amount of land covered by forests is increasing.

Correct Answer
verified

(Consider This) Which of the following best explains why wind and solar power have been slow to replace coal- and gas-based energy production?

Correct Answer
verified

Which of the following is not considered by demographers to be part of the three-step demographic transition?

Correct Answer
verified

A mining company has the opportunity to extract from a coal reserve this year for a profit of $40 per pound. The current market rate of interest is 5 percent. The present value of this future extraction is

Correct Answer
verified

TAC policies help reduce overfishing and reduce costs for fishers.

Correct Answer
verified

The average person in the United States generates about 10 pounds of trash per day.

Correct Answer
verified

An oil company is considering drilling in the Gulf at a current cost of $300,000 with an expected profit of $500,000 in three years. The current market rate is 10 percent. Should the company make the investment?

Correct Answer
verified

Commodity prices are relatively stable from year to year.

Correct Answer
verified

As nations become richer, they tend to pollute

Correct Answer
verified

Exam 19: Natural Resource and Energy Economics

In the United States in 2014, one million BTUs of energy yielded worth of goods and services (in 2009 dollars) .

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Many demographers expect world population to

Correct AnswerverifiedShow Answer

If the property rights for forests are clear and enforced, then

Correct AnswerverifiedShow Answer

(Last Word) Most economists view economic growth as

Correct AnswerverifiedShow Answer

What is most likely to happen when no logger owns the property rights to a forest that is open to logging?

Correct AnswerverifiedShow Answer

Which of the following is the best example of a market failure to conserve a resource resulting from poorly defined property rights?

Correct AnswerverifiedShow Answer

Relative to 1800, today in the world there are

Correct AnswerverifiedShow Answer

Which of the following policies has succeeded in reducing fishery catch sizes?

Correct AnswerverifiedShow Answer

Per capita energy use in the United States has remained fairly constant since 1980.

Correct AnswerverifiedShow Answer

Renewable energy sources account for about 50 percent of U.S. electricity generation.

Correct AnswerverifiedShow Answer

In the United States and parts of Western Europe, the amount of land covered by forests is increasing.

Correct AnswerverifiedShow Answer

(Consider This) Which of the following best explains why wind and solar power have been slow to replace coal- and gas-based energy production?

Correct AnswerverifiedShow Answer

Which of the following is not considered by demographers to be part of the three-step demographic transition?

Correct AnswerverifiedShow Answer

A mining company has the opportunity to extract from a coal reserve this year for a profit of $40 per pound. The current market rate of interest is 5 percent. The present value of this future extraction is

Correct AnswerverifiedShow Answer

TAC policies help reduce overfishing and reduce costs for fishers.

Correct AnswerverifiedShow Answer

The average person in the United States generates about 10 pounds of trash per day.

Correct AnswerverifiedShow Answer

An oil company is considering drilling in the Gulf at a current cost of $300,000 with an expected profit of $500,000 in three years. The current market rate is 10 percent. Should the company make the investment?

Correct AnswerverifiedShow Answer

Commodity prices are relatively stable from year to year.

Correct AnswerverifiedShow Answer

As nations become richer, they tend to pollute

Correct AnswerverifiedShow Answer

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