Question 1

(Consider This) According to the International Energy Agency:

Accepted Answer

A)   fracking would result in the United States becoming the world's largest producer of both natural gas and oil by the year 2020.
B)   alternative energy sources would account for half of the world's energy production by 2030.
C)   the world will economically exhaust its oil and natural gas deposits by 2025.
D)   government subsidies have hindered the development of alternative energy.E) B) and C)
F) B) and D)

Question 2

Other things equal,biodiesel becomes economically viable (as or less costly than using oil) when oil prices reach _____ or more per barrel.

Accepted Answer

A)   $60
B)   $80
C)   $100
D)   $120E) A) and B)
F) A) and C)

Question 3

Electricity generating plants with low fixed costs tend to have high operating costs.

Accepted Answer

A) True 
 B)False

Question 4

The amount of land covered by forests is:

Accepted Answer

A)   declining in all nations.
B)   increasing in all nations.
C)   increasing in places like the United States and Western Europe,while declining in countries in South and Central America.
D)   declining in places like the United States and Western Europe,while increasing in countries in South and Central America.E) None of the above
F) B) and D)

Question 5

Which of the following is true about U.S.energy consumption and per capita real GDP since 1988?

Accepted Answer

A)   Per capita energy consumption and per capita real GDP have both risen.
B)   Per capita consumption of energy has been relatively constant,while per capita real GDP has risen.
C)   Per capita energy consumption and per capita real GDP have both fallen.
D)   Per capita energy consumption has fallen,while per capita real GDP has risen.E) None of the above
F) B) and C)

Question 6

Renewable natural resources can never be exhausted.

Accepted Answer

A) True 
 B)False

Question 7

A total fertility rate of 1.0 is necessary to keep the population constant over time.

Accepted Answer

A) True 
 B)False

Question 8

Profit-maximizing extraction companies will attempt to:

Accepted Answer

A)   extract resources as quickly as possible.
B)   delay extraction as long as possible.
C)   find rates of extraction that maximize the flow of profits over time.
D)   extract resources at a constant rate every year to minimize price fluctuations.E) C) and D)
F) None of the above

Question 9

In energy economics,"BTU" stands for:

Accepted Answer

A)   boiling temperature unit.
B)   base tax utility.
C)   British thermal unit.
D)   base technology utility.E) A) and B)
F) B) and D)

Question 10

ITQs both limit catches and encourage fishing in the least costly way.

Accepted Answer

A) True 
 B)False

Question 11

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

Accepted Answer

A)   Fracking for oil and natural gas.
B)   Government subsidies for alternative energy.
C)   Overpopulation.
D)   Overfishing in international waters.E) A) and B)
F) All of the above

Question 12

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. Refer to the information given.If the market price of sockeye salmon is $15 per ton,and Kara and Kyle both catch their quota,their combined profit will be:

Accepted Answer

A)   $6,000.
B)   $14,000.
C)   $20,000.
D)   $30,000.E) None of the above
F) All of the above

Question 13

Modernizing economies that have declining birthrates may still experience population growth because of rapidly declining death rates.

Accepted Answer

A) True 
 B)False

Question 14

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

Accepted Answer

A) True 
 B)False

Question 15

(Last Word) In 2012,the countries with the highest scores on the Environmental Performance Index were:

Accepted Answer

A)   the United States and Tanzania.
B)   Switzerland and Latvia.
C)   New Zealand and Sweden.
D)   Brazil and Australia.E) A) and B)
F) C) and D)

Question 16

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

Accepted Answer

A) True 
 B)False

Question 17

Other things equal,extracting oil from shale becomes economically viable (as or less costly than using conventionally extracted oil) when oil prices reach _____ or more per barrel.

Accepted Answer

A)   $80
B)   $60
C)   $50
D)   $40E) None of the above
F) A) and B)

Question 18

When the benefits of conservation and future use are excluded from a cost-benefit analysis,there is a tendency to:

Accepted Answer

A)   more efficiently allocate resources.
B)   overvalue future resources by considering them "priceless."
C)   stop resource extraction.
D)   extract and use resources as quickly as possible.E) A) and D)
F) A) and C)

Question 19

Which of the following best describes the typical growth pattern of trees for logging?

Accepted Answer

A)   Trees grow slowly at first,then grow exponentially until cut down.
B)   Trees grow quickly at first,then continue to grow at a declining rate.
C)   Trees grow quickly at first,then plateau for a time before resuming an exponential growth pattern.
D)   Trees grow slowly at first,quickly in the middle years,and then at a diminishing rate into old age.E) A) and D)
F) B) and C)

Question 20

Which of the following is considered a nonrenewable natural resource?

Accepted Answer

A)   Solar power.
B)   Coal.
C)   Oceans.
D)   Aquifers.E) B) and C)
F) A) and D)

Exam 18: Natural Resource and Energy Economics

ITQs both limit catches and encourage fishing in the least costly way.

Correct Answer
verified

A total fertility rate of 1.0 is necessary to keep the population constant over time.

Correct Answer
verified

Renewable natural resources can never be exhausted.

Correct Answer
verified

Which of the following best describes the typical growth pattern of trees for logging?

Correct Answer
verified

Which of the following is considered a nonrenewable natural resource?

Correct Answer
verified

The amount of land covered by forests is:

Correct Answer
verified

Which of the following is true about U.S.energy consumption and per capita real GDP since 1988?

Correct Answer
verified

Electricity generating plants with low fixed costs tend to have high operating costs.

Correct Answer
verified

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

Correct Answer
verified

(Last Word) In 2012,the countries with the highest scores on the Environmental Performance Index were:

Correct Answer
verified

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

Correct Answer
verified

When the benefits of conservation and future use are excluded from a cost-benefit analysis,there is a tendency to:

Correct Answer
verified

Other things equal,extracting oil from shale becomes economically viable (as or less costly than using conventionally extracted oil) when oil prices reach _____ or more per barrel.

Correct Answer
verified

Modernizing economies that have declining birthrates may still experience population growth because of rapidly declining death rates.

Correct Answer
verified

In energy economics,"BTU" stands for:

Correct Answer
verified

Other things equal,biodiesel becomes economically viable (as or less costly than using oil) when oil prices reach _____ or more per barrel.

Correct Answer
verified

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

Correct Answer
verified

Correct Answer
verified

Profit-maximizing extraction companies will attempt to:

Correct Answer
verified

(Consider This) According to the International Energy Agency:

Correct Answer
verified

Exam 18: Natural Resource and Energy Economics

ITQs both limit catches and encourage fishing in the least costly way.

Correct AnswerverifiedShow Answer

A total fertility rate of 1.0 is necessary to keep the population constant over time.

Correct AnswerverifiedShow Answer

Renewable natural resources can never be exhausted.

Correct AnswerverifiedShow Answer

Which of the following best describes the typical growth pattern of trees for logging?

Correct AnswerverifiedShow Answer

Which of the following is considered a nonrenewable natural resource?

Correct AnswerverifiedShow Answer

The amount of land covered by forests is:

Correct AnswerverifiedShow Answer

Which of the following is true about U.S.energy consumption and per capita real GDP since 1988?

Correct AnswerverifiedShow Answer

Electricity generating plants with low fixed costs tend to have high operating costs.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

(Last Word) In 2012,the countries with the highest scores on the Environmental Performance Index were:

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

When the benefits of conservation and future use are excluded from a cost-benefit analysis,there is a tendency to:

Correct AnswerverifiedShow Answer

Other things equal,extracting oil from shale becomes economically viable (as or less costly than using conventionally extracted oil) when oil prices reach _____ or more per barrel.

Correct AnswerverifiedShow Answer

Modernizing economies that have declining birthrates may still experience population growth because of rapidly declining death rates.

Correct AnswerverifiedShow Answer

In energy economics,"BTU" stands for:

Correct AnswerverifiedShow Answer

Other things equal,biodiesel becomes economically viable (as or less costly than using oil) when oil prices reach _____ or more per barrel.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Profit-maximizing extraction companies will attempt to:

Correct AnswerverifiedShow Answer

(Consider This) According to the International Energy Agency:

Correct AnswerverifiedShow Answer

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