Question 1

Total allowable catch policies and individual transferable quotas both:

Accepted Answer

A)   limit catch sizes and promote efficiency.
B)   limit catch sizes,but TACs promote inefficiency.
C)   promote efficiency,but only TACs limit catch sizes.
D)   promote efficiency,but only ITQs limit catch sizes.E) B) and C)
F) A) and D)

Question 2

Which of the following would cause the present optimal extraction level of a nonrenewable resource to fall?

Accepted Answer

A)   A reduction in extraction costs.
B)   A reduction in user costs.
C)   A reduction in total costs.
D)   A reduction in the price of the resource.E) None of the above
F) All of the above

Question 3

A fishery is a stock of fish or other marine animal thought of as a logically distinct group,and usually identified by its location and species.

Accepted Answer

A) True 
 B)False

Question 4

Which of the following statements is true about falling birthrates?

Accepted Answer

A)   They tend to lag behind falling death rates,allowing population growth to continue for at least one or two more generations.
B)   They tend to precede declines in death rates,causing a temporary dip in population before it stabilizes in a generation or two.
C)   They tend to lag behind declining standards of living.
D)   They always cause population to decline.E) B) and C)
F) A) and D)

Question 5

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

Accepted Answer

A) True 
 B)False

Question 6

Elephant populations have:

Accepted Answer

A)   expanded everywhere because of state control of elephant populations.
B)   declined in countries where they are owned by local villages,and expanded where they are owned by the state.
C)   expanded in countries where they are owned by local villages,and declined where they are owned by the state.
D)   declined everywhere,regardless of whether property rights over elephants are recognized.E) A) and B)
F) A) and C)

Question 7

About two-thirds of U.S.electricity is generated from:

Accepted Answer

A)   hydroelectric.
B)   petroleum.
C)   nuclear energy.
D)   coal and gas.E) None of the above
F) A) and D)

Question 8

Since 1950,the energy efficiency of the U.S.economy in terms of producing goods and services has:

Accepted Answer

A)   not changed.
B)   more than doubled.
C)   risen about 50 percent.
D)   risen more than threefold.E) A) and C)
F) B) and C)

Question 9

Which of the following nations has a total fertility rate that would suggest that its next generation will only be half the size of the current generation?

Accepted Answer

A)   Hong Kong.
B)   Australia.
C)   Sweden.
D)   All of these nations.E) B) and C)
F) A) and B)

Question 10

Over the past decade,total and per capita trash generated in the United States have:

Accepted Answer

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

Question 11

In the United States in 2011,one million BTUs of energy yielded _______ worth of goods and services (in year 2005 dollars) .

Accepted Answer

A)   $17.50
B)   $57.90
C)   $117.37
D)   $136.80E) All of the above
F) A) and B)

Question 12

The higher a resource's current price,the more extraction should be delayed to a later period.

Accepted Answer

A) True 
 B)False

Question 13

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 and assume that the market price of sockeye salmon is $15 per ton.If Kara pays Kyle $5 per ton for his ITQs,and if she then catches her new limit of 4,000 tons,their combined profit would be:

Accepted Answer

A)   $18,000.
B)   $22,000.
C)   $20,000.
D)   $4,000.E) A) and B)
F) A) and C)

Question 14

The user cost of extracting a nonrenewable resource is:

Accepted Answer

A)   inversely related to how much of the resource remains.
B)   directly related to how much of the resource remains.
C)   unrelated to how much of the resource remains.
D)   inversely related to the expected future price of the resource.E) B) and C)
F) A) and B)

Question 15

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

Accepted Answer

A) True 
 B)False

Question 16

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) B) and C)
F) C) and D)

Question 17

A company's extraction cost curve slopes upward to reflect:

Accepted Answer

A)   that marginal extraction costs increase as the company extracts more of the resource.
B)   that user costs rise as the company extracts more of the resource.
C)   that the price of the nonrenewable resource increases as the amount extracted increases.
D)   all of these.E) A) and D)
F) A) and C)

Question 18

Energy demand is relatively stable over the course of a day.

Accepted Answer

A) True 
 B)False

Question 19

A profit-maximizing company should extract a nonrenewable resource in the present up to the quantity where the:

Accepted Answer

A)   selling price of the resource equals the extraction cost plus the user cost of the resource.
B)   selling price of the resource equals the total cost plus the user cost of the resource.
C)   selling price of the resource equals the extraction cost of the resource.
D)   extraction cost of the resource equals the user cost of the resource.E) All of the above
F) None of the above

Question 20

Property rights over fish in the open ocean exist once the fish are caught.

Accepted Answer

A) True 
 B)False

Exam 18: Natural Resource and Energy Economics

Which of the following nations has a total fertility rate that would suggest that its next generation will only be half the size of the current generation?

Correct Answer
verified

The higher a resource's current price,the more extraction should be delayed to a later period.

Correct Answer
verified

Since 1950,the energy efficiency of the U.S.economy in terms of producing goods and services has:

Correct Answer
verified

Total allowable catch policies and individual transferable quotas both:

Correct Answer
verified

About two-thirds of U.S.electricity is generated from:

Correct Answer
verified

Energy demand is relatively stable over the course of a day.

Correct Answer
verified

Which of the following would cause the present optimal extraction level of a nonrenewable resource to fall?

Correct Answer
verified

Elephant populations have:

Correct Answer
verified

The user cost of extracting a nonrenewable resource is:

Correct Answer
verified

A fishery is a stock of fish or other marine animal thought of as a logically distinct group,and usually identified by its location and species.

Correct Answer
verified

In the United States in 2011,one million BTUs of energy yielded _______ worth of goods and services (in year 2005 dollars) .

Correct Answer
verified

A company's extraction cost curve slopes upward to reflect:

Correct Answer
verified

Which of the following statements is true about falling birthrates?

Correct Answer
verified

A BTU is the amount of energy needed to:

Correct Answer
verified

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

Correct Answer
verified

Correct Answer
verified

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

Correct Answer
verified

Property rights over fish in the open ocean exist once the fish are caught.

Correct Answer
verified

A profit-maximizing company should extract a nonrenewable resource in the present up to the quantity where the:

Correct Answer
verified

Over the past decade,total and per capita trash generated in the United States have:

Correct Answer
verified

Exam 18: Natural Resource and Energy Economics

Which of the following nations has a total fertility rate that would suggest that its next generation will only be half the size of the current generation?

Correct AnswerverifiedShow Answer

The higher a resource's current price,the more extraction should be delayed to a later period.

Correct AnswerverifiedShow Answer

Since 1950,the energy efficiency of the U.S.economy in terms of producing goods and services has:

Correct AnswerverifiedShow Answer

Total allowable catch policies and individual transferable quotas both:

Correct AnswerverifiedShow Answer

About two-thirds of U.S.electricity is generated from:

Correct AnswerverifiedShow Answer

Energy demand is relatively stable over the course of a day.

Correct AnswerverifiedShow Answer

Which of the following would cause the present optimal extraction level of a nonrenewable resource to fall?

Correct AnswerverifiedShow Answer

Elephant populations have:

Correct AnswerverifiedShow Answer

The user cost of extracting a nonrenewable resource is:

Correct AnswerverifiedShow Answer

A fishery is a stock of fish or other marine animal thought of as a logically distinct group,and usually identified by its location and species.

Correct AnswerverifiedShow Answer

In the United States in 2011,one million BTUs of energy yielded _______ worth of goods and services (in year 2005 dollars) .

Correct AnswerverifiedShow Answer

A company's extraction cost curve slopes upward to reflect:

Correct AnswerverifiedShow Answer

Which of the following statements is true about falling birthrates?

Correct AnswerverifiedShow Answer

A BTU is the amount of energy needed to:

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Property rights over fish in the open ocean exist once the fish are caught.

Correct AnswerverifiedShow Answer

A profit-maximizing company should extract a nonrenewable resource in the present up to the quantity where the:

Correct AnswerverifiedShow Answer

Over the past decade,total and per capita trash generated in the United States have:

Correct AnswerverifiedShow Answer

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