Question 1

Productive inputs capable of replacing themselves if harvested at moderate rates are known as:

Accepted Answer

A)   renewable natural resources.
B)   natural capital.
C)   nonrenewable natural resources.
D)   fossil fuels.E) A) and B)
F) None of the above

Question 2

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

Accepted Answer

A) True 
 B)False

Question 3

Higher interest rates will,all else equal:

Accepted Answer

A)   increase the extraction cost of a resource.
B)   increase the user cost of extracting a resource.
C)   reduce the user cost of extracting a resource.
D)   have no impact on either the user cost or extraction cost of a resource.E) None of the above
F) C) and D)

Question 4

A total fertility rate of 1.0 will cause the:

Accepted Answer

A)   population to remain stable.
B)   population to double in one generation.
C)   population to collapse in one generation.
D)   next generation to be half the size of the current generation.E) A) and B)
F) A) and C)

Question 5

Forestry companies typically harvest and replant an area when trees are:

Accepted Answer

A)   very young and growing slowly.
B)   middle aged and growing rapidly.
C)   near the end of their rapid growth period.
D)   extremely old and about to die anyway.E) C) and D)
F) None of the above

Question 6

If a country has a total fertility rate of 1.8,then all else equal we would expect:

Accepted Answer

A)   population in that country to rise over time.
B)   population in that country to fall over time.
C)   the replacement rate to also equal 1.8.
D)   the population to remain stable over time.E) A) and B)
F) B) and D)

Question 7

Human beings consume more both in absolute terms and on a per capita basis than they did 200 years ago.

Accepted Answer

A) True 
 B)False

Question 8

For the past couple of decades,approximately how much trash per person per day has been generated in the United States?

Accepted Answer

A)   2 pounds.
B)   3.4 pounds.
C)   4.6 pounds.
D)   12.8 pounds.E) A) and B)
F) A) and C)

Question 9

The total fertility rate:

Accepted Answer

A)   measures the average number of children that a woman is expected to have during her lifetime.
B)   measures the average number of children that each couple is expected to have during their lifetime.
C)   equals the rate of population change over time.
D)   rises as income rises.E) A) and B)
F) A) and C)

Question 10

ACME Corporation used to produce $50 worth of goods (in year 2000 dollars) per million BTUs used.Now it produces $60 worth of goods (in year 2000 dollars) per million BTUs.Based on this,we can conclude:

Accepted Answer

A)   nothing about ACME's energy efficiency.
B)   that ACME's energy efficiency has declined.
C)   that ACME's energy efficiency has improved.
D)   that ACME is using a single energy source and achieving economies of scale in production.E) None of the above
F) A) and C)

Question 11

Per capita water use in the United States has steadily increased since 1973.

Accepted Answer

A) True 
 B)False

Question 12

About two-thirds of U.S.electricity is generated at coal and gas plants.

Accepted Answer

A) True 
 B)False

Question 13

Higher user costs imply that a resource should be extracted more quickly.

Accepted Answer

A) True 
 B)False

Question 14

Assuming that interest rates are positive,the present value of an $80 barrel of oil in two years is less than an $80 barrel today.

Accepted Answer

A) True 
 B)False

Question 15

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. Refer to the information given.If the market price of Pacific halibut is $40 per ton,and Melanie and Oli both catch their quota,their combined profit will be:

Accepted Answer

A)   $12,000.
B)   $22,000.
C)   $25,000.
D)   $32,000.E) C) and D)
F) B) and D)

Question 16

Over the past two decades,total and per capita water use in the United States have:

Accepted Answer

A)   both increased.
B)   leveled off and fallen,respectively.
C)   fallen and leveled off,respectively.
D)   increased and fallen,respectively.E) None of the above
F) B) and C)

Question 17

The cost of not being able to extract and sell a nonrenewable resource in the future (because it is being extracted in the present) is known by natural resource economists as the:

Accepted Answer

A)   extraction cost.
B)   future cost.
C)   conservation cost.
D)   user cost.E) C) and D)
F) A) and B)

Question 18

Individual transferable quotas are limited in their effectiveness because:

Accepted Answer

A)   they are only enforceable within 200 miles of a nation's shores.
B)   government,rather than the market,sets their price.
C)   they encourage wasteful spending by fishers in ITQ areas.
D)   they are not tradable.E) None of the above
F) C) and D)

Question 19

Elephants are moving closer to extinction in places where they are treated as private property.

Accepted Answer

A) True 
 B)False

Question 20

Power plants with the lowest operating costs tend to:

Accepted Answer

A)   have the lowest fixed costs in terms of construction.
B)   have the highest fixed costs in terms of construction.
C)   operate on the smallest scale of energy production.
D)   generate the cleanest energy.E) A) and C)
F) A) and D)

Exam 18: Natural Resource and Energy Economics

Higher user costs imply that a resource should be extracted more quickly.

Correct Answer
verified

If a country has a total fertility rate of 1.8,then all else equal we would expect:

Correct Answer
verified

Forestry companies typically harvest and replant an area when trees are:

Correct Answer
verified

For the past couple of decades,approximately how much trash per person per day has been generated in the United States?

Correct Answer
verified

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

Correct Answer
verified

Per capita water use in the United States has steadily increased since 1973.

Correct Answer
verified

Power plants with the lowest operating costs tend to:

Correct Answer
verified

Over the past two decades,total and per capita water use in the United States have:

Correct Answer
verified

Productive inputs capable of replacing themselves if harvested at moderate rates are known as:

Correct Answer
verified

A total fertility rate of 1.0 will cause the:

Correct Answer
verified

About two-thirds of U.S.electricity is generated at coal and gas plants.

Correct Answer
verified

ACME Corporation used to produce $50 worth of goods (in year 2000 dollars) per million BTUs used.Now it produces $60 worth of goods (in year 2000 dollars) per million BTUs.Based on this,we can conclude:

Correct Answer
verified

Higher interest rates will,all else equal:

Correct Answer
verified

Assuming that interest rates are positive,the present value of an $80 barrel of oil in two years is less than an $80 barrel today.

Correct Answer
verified

Correct Answer
verified

Human beings consume more both in absolute terms and on a per capita basis than they did 200 years ago.

Correct Answer
verified

Individual transferable quotas are limited in their effectiveness because:

Correct Answer
verified

Elephants are moving closer to extinction in places where they are treated as private property.

Correct Answer
verified

The total fertility rate:

Correct Answer
verified

The cost of not being able to extract and sell a nonrenewable resource in the future (because it is being extracted in the present) is known by natural resource economists as the:

Correct Answer
verified

Exam 18: Natural Resource and Energy Economics

Higher user costs imply that a resource should be extracted more quickly.

Correct AnswerverifiedShow Answer

If a country has a total fertility rate of 1.8,then all else equal we would expect:

Correct AnswerverifiedShow Answer

Forestry companies typically harvest and replant an area when trees are:

Correct AnswerverifiedShow Answer

For the past couple of decades,approximately how much trash per person per day has been generated in the United States?

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Per capita water use in the United States has steadily increased since 1973.

Correct AnswerverifiedShow Answer

Power plants with the lowest operating costs tend to:

Correct AnswerverifiedShow Answer

Over the past two decades,total and per capita water use in the United States have:

Correct AnswerverifiedShow Answer

Productive inputs capable of replacing themselves if harvested at moderate rates are known as:

Correct AnswerverifiedShow Answer

A total fertility rate of 1.0 will cause the:

Correct AnswerverifiedShow Answer

About two-thirds of U.S.electricity is generated at coal and gas plants.

Correct AnswerverifiedShow Answer

ACME Corporation used to produce $50 worth of goods (in year 2000 dollars) per million BTUs used.Now it produces $60 worth of goods (in year 2000 dollars) per million BTUs.Based on this,we can conclude:

Correct AnswerverifiedShow Answer

Higher interest rates will,all else equal:

Correct AnswerverifiedShow Answer

Assuming that interest rates are positive,the present value of an $80 barrel of oil in two years is less than an $80 barrel today.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Human beings consume more both in absolute terms and on a per capita basis than they did 200 years ago.

Correct AnswerverifiedShow Answer

Individual transferable quotas are limited in their effectiveness because:

Correct AnswerverifiedShow Answer

Elephants are moving closer to extinction in places where they are treated as private property.

Correct AnswerverifiedShow Answer

The total fertility rate:

Correct AnswerverifiedShow Answer

The cost of not being able to extract and sell a nonrenewable resource in the future (because it is being extracted in the present) is known by natural resource economists as the:

Correct AnswerverifiedShow Answer

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