Question 1

In 2014, according to U.S. Energy Information Administration data, which of the following sources of energy contributed the smallest share to U.S. electricity generation?

Accepted Answer

A)   petroleum
B)   nuclear
C)   hydropower
D)   natural gasE) None of the above
F) A) and C)

Question 2

ITQs generate the most efficient use of resources when everyone keeps and fills their own quotas.

Accepted Answer

A) True 
 B)False

Question 3

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

Accepted Answer

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

Question 4

Individual transferable quotas (ITQs)

Accepted Answer

A)   promote efficiency and limit catches.
B)   promote efficiency in production but still lead to overfishing.
C)   limit catches but encourage production cost increases that are inefficient.
D)   have failed to limit catches or promote efficiency.E) None of the above
F) B) and C)

Question 5

In the absence of enforceable property rights, there is little incentive to preserve resources for future use.

Accepted Answer

A) True 
 B)False

Question 6

If the price of oil falls, the economic viability of alternative energy sources also tends to fall.

Accepted Answer

A) True 
 B)False

Question 7

Demographers expect world population to peak and then decline in the twenty-first century.

Accepted Answer

A) True 
 B)False

Question 8

A BTU is the amount of energy needed to

Accepted Answer

A)   raise the temperature of one pound of water by one degree Fahrenheit.
B)   boil one gallon of water for one minute.
C)   raise the air temperature one degree Celsius for one hour.
D)   raise the temperature of one pint of water by one degree Celsius.E) A) and C)
F) None of the above

Question 9

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) B) and D)
F) None of the above

Question 10

Increases in U.S. living standards have matched increases in per capita energy use.

Accepted Answer

A) True 
 B)False

Exam 19: Natural Resource and Energy Economics

If the price of oil falls, the economic viability of alternative energy sources also tends to fall.

Correct Answer
verified

Correct Answer
verified

Demographers expect world population to peak and then decline in the twenty-first century.

Correct Answer
verified

A BTU is the amount of energy needed to

Correct Answer
verified

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

Correct Answer
verified

In the absence of enforceable property rights, there is little incentive to preserve resources for future use.

Correct Answer
verified

ITQs generate the most efficient use of resources when everyone keeps and fills their own quotas.

Correct Answer
verified

Individual transferable quotas (ITQs)

Correct Answer
verified

In 2014, according to U.S. Energy Information Administration data, which of the following sources of energy contributed the smallest share to U.S. electricity generation?

Correct Answer
verified

Increases in U.S. living standards have matched increases in per capita energy use.

Correct Answer
verified

Exam 19: Natural Resource and Energy Economics

If the price of oil falls, the economic viability of alternative energy sources also tends to fall.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Demographers expect world population to peak and then decline in the twenty-first century.

Correct AnswerverifiedShow Answer

A BTU is the amount of energy needed to

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

In the absence of enforceable property rights, there is little incentive to preserve resources for future use.

Correct AnswerverifiedShow Answer

ITQs generate the most efficient use of resources when everyone keeps and fills their own quotas.

Correct AnswerverifiedShow Answer

Individual transferable quotas (ITQs)

Correct AnswerverifiedShow Answer

In 2014, according to U.S. Energy Information Administration data, which of the following sources of energy contributed the smallest share to U.S. electricity generation?

Correct AnswerverifiedShow Answer

Increases in U.S. living standards have matched increases in per capita energy use.

Correct AnswerverifiedShow Answer

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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