Question 1

Some of the newer pollutants that have appeared

Accepted Answer

A) are far more visible to the eye than older pollution. 
B) cause damage that is easily reversible. 
C) pose no significant long-term hazards. 
D) are far more dangerous than older forms of pollution. 
A) are far more visible to the eye than older pollution. 
B) cause damage that is easily reversible. 
C) pose no significant long-term hazards. 
D) are far more dangerous than older forms of pollution. D

Question 2

Empirical evidence indicates that imposing taxes on polluting emissions by firms

Accepted Answer

A) has no effect on the amount of pollution emitted. 
B) does not give the government leeway to regulate more dangerous emissions differently than less dangerous emissions. 
C) does reduce the amount of pollution emitted. 
D) discourages firms from investing in new methods of pollution abatement. 
A) has no effect on the amount of pollution emitted. 
B) does not give the government leeway to regulate more dangerous emissions differently than less dangerous emissions. 
C) does reduce the amount of pollution emitted. 
D) discourages firms from investing in new methods of pollution abatement. C

Question 3

Pollution is an example of a negative externality.

Accepted Answer

A) True 
 B)False  True

Question 4

The position of the supply curve in the market for garbage removal

Accepted Answer

A) is irrelevant since the cost is fixed. 
B) depends on the marginal cost of garbage removal. 
C) depends on the demand for garbage removal services. 
D) is unaffected by taxes levied per household amount of garbage. 
A) is irrelevant since the cost is fixed. 
B) depends on the marginal cost of garbage removal. 
C) depends on the demand for garbage removal services. 
D) is unaffected by taxes levied per household amount of garbage.

Question 5

Water quality in the United States has ____ in the past 25 years.

Accepted Answer

A) improved 
B) worsened 
C) remained unchanged 
D) improved slightly before a recent deterioration 
A) improved 
B) worsened 
C) remained unchanged 
D) improved slightly before a recent deterioration

Question 6

The legal system imposes large financial penalties on firms caught violating Environmental Protection Agency guidelines.The EPA's standards program is thus an example of a

Accepted Answer

A) market-based approach to reducing pollution. 
B) system of emissions taxes. 
C) system of emissions permits. 
D) direct-control system enforced through the courts. 
A) market-based approach to reducing pollution. 
B) system of emissions taxes. 
C) system of emissions permits. 
D) direct-control system enforced through the courts.

Question 7

Price controls would ordinarily be used to increase rather than decrease prices of depletable resources.

Accepted Answer

A) True 
 B)False

Question 8

Voluntarism often has proved to be weak and unreliable.Does it still have a place in controlling activities that damage the environment?

Accepted Answer

Yes, voluntary measures do have their pl

Question 9

Many of the new pollutants to which the world has been subjected are

Accepted Answer

A) less visible. 
B) less malodorous. 
C) far more dangerous. 
D) All of the above are correct. 
A) less visible. 
B) less malodorous. 
C) far more dangerous. 
D) All of the above are correct.

Question 10

Individuals and government have been contributors in harming the environment.

Accepted Answer

A) True 
 B)False

Question 11

Air quality in most U.S.cities has ____ since World War II.

Accepted Answer

A) worsened 
B) improved 
C) remained unchanged 
D) improved slightly before a recent deterioration 
A) worsened 
B) improved 
C) remained unchanged 
D) improved slightly before a recent deterioration

Question 12

The supply curve of a depletable natural resource is usually

Accepted Answer

A) downward sloping because the resource runs out over time. 
B) upward sloping because more of the resource can be profitably extracted at higher prices. 
C) upward sloping because the price of the resource rises over time. 
D) vertical because the supply of the resource is fixed. 
A) downward sloping because the resource runs out over time. 
B) upward sloping because more of the resource can be profitably extracted at higher prices. 
C) upward sloping because the price of the resource rises over time. 
D) vertical because the supply of the resource is fixed.

Question 13

Compare market price and quantity of steel to socially optimal price and quantity if steel producers ignore soot emitted from their smokestacks.Use a graph to assist your explanation.

Accepted Answer

The market results in too low a price an

Question 14

Externalities are commonly generated from

Accepted Answer

A) purely competitive retail industries. 
B) modern computer technologies. 
C) ordinary consumption and production activities. 
D) benefits from further pollution abatement, which are zero. 
A) purely competitive retail industries. 
B) modern computer technologies. 
C) ordinary consumption and production activities. 
D) benefits from further pollution abatement, which are zero.

Question 15

"One of the failings of a market system is the damage to the environment.Pollution would not exist with a centrally planned economy." Evaluate this statement.

Accepted Answer

Market systems fail to include external

Question 16

Recycling in the United States in recent years

Accepted Answer

A) has decreased in spite of increased rates for common recycling materials. 
B) has remained unchanged, and increased raes for recycling may help. 
C) has increased with increased rates for recycling mterials. 
D) has increased with no help from increased fees for recycling materials. 
A) has decreased in spite of increased rates for common recycling materials. 
B) has remained unchanged, and increased raes for recycling may help. 
C) has increased with increased rates for recycling mterials. 
D) has increased with no help from increased fees for recycling materials.

Question 17

Direct controls have traditionally been used heavily to control pollution in the U.S.

Accepted Answer

A) True 
 B)False

Question 18

Increased concern about environmental problems derive partly from

Accepted Answer

A) concerns about increasing economic output. 
B) concerns about unemployment and inflation. 
C) new awareness that the problems exist. 
D) concerns about the quality of life. 
A) concerns about increasing economic output. 
B) concerns about unemployment and inflation. 
C) new awareness that the problems exist. 
D) concerns about the quality of life.

Question 19

Under a system of financial penalties for polluters:

Accepted Answer

A) Firms could pollute all they wanted to. 
B) Firms would have to pay a tax for each unit of pollution created. 
C) Firms would be encouraged to pollute less. 
D) All of the above are correct. 
A) Firms could pollute all they wanted to. 
B) Firms would have to pay a tax for each unit of pollution created. 
C) Firms would be encouraged to pollute less. 
D) All of the above are correct.

Question 20

The price elasticity of demand for an exhaustible natural resource tends to

Accepted Answer

A) fall over time because extraction costs rise over time. 
B) stay constant over time because the resource's price rises at a constant rate. 
C) rise over time because the resource's rising price stimulates conservation and the development of substitutes. 
D) rise over time because resource extraction tends to become more efficient over time. 
A) fall over time because extraction costs rise over time. 
B) stay constant over time because the resource's price rises at a constant rate. 
C) rise over time because the resource's rising price stimulates conservation and the development of substitutes. 
D) rise over time because resource extraction tends to become more efficient over time.

Exam 16: Externalities the Environment and Natural Resources

Some of the newer pollutants that have appeared

Empirical evidence indicates that imposing taxes on polluting emissions by firms

Pollution is an example of a negative externality.

The position of the supply curve in the market for garbage removal

Water quality in the United States has ____ in the past 25 years.

The legal system imposes large financial penalties on firms caught violating Environmental Protection Agency guidelines.The EPA's standards program is thus an example of a

Price controls would ordinarily be used to increase rather than decrease prices of depletable resources.

Voluntarism often has proved to be weak and unreliable.Does it still have a place in controlling activities that damage the environment?

Many of the new pollutants to which the world has been subjected are

Individuals and government have been contributors in harming the environment.

Air quality in most U.S.cities has ____ since World War II.

The supply curve of a depletable natural resource is usually

Compare market price and quantity of steel to socially optimal price and quantity if steel producers ignore soot emitted from their smokestacks.Use a graph to assist your explanation.

Externalities are commonly generated from

"One of the failings of a market system is the damage to the environment.Pollution would not exist with a centrally planned economy." Evaluate this statement.

Recycling in the United States in recent years

Direct controls have traditionally been used heavily to control pollution in the U.S.

Increased concern about environmental problems derive partly from

Under a system of financial penalties for polluters:

The price elasticity of demand for an exhaustible natural resource tends to

What Is Economics

The Economy Myth and Reality

The Fundamental Economic Problem Scarcity and Choice

Supply and Demand an Initial Look

Consumer Choice Individual and Market Demand

Demand and Elasticity

Production Inputs and Cost Building Blocks for Supply Analysis

Output Price and Profit the Importance of Marginal Analysis

Securities Business Finance and the Economy the Tail That Wags the Dog

The Firm and the Industry Under Perfect Competition

Monopoly

Between Competition and Monopoly

Limiting Market Power Regulation and Antitrust

The Case for Free Markets the Price System

The Shortcomings of Free Markets

Taxation and Resource Allocation

Pricing the Factors of Production

Labor and Entrepreneurship the Human Inputs

Poverty Inequality and Discrimination

Is Us Economic Leadership Threatened

International Trade and Comparative Advantage

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