Exam 16: Externalities, the Environment, and Natural Resources

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Americans are creating an enormous amount of solid waste daily-over 4 pounds per person per day.How is the United States coping with this extraordinary problem?

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Question 1

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Fortunately, recycling rates are rising to meet this rising tide of garbage.The Environmental Protection Agency estimates that the rate at which materials in the municipal solid waste stream were recycled rose to 33 percent in 2008 which represents an increase of 200%.The situation has been aided by rising prices of recycled materials as manufacturers have employed the technology available for recycling.

Economists believe that the goal of environmental policy should be zero pollution.

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Among the factors that might lead to a divergence from the path of prices for a depletable resource predicted by the economic models are: (i) unexpected discoveries of new reserves; (ii) new technologies which reduce extraction costs.

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Voluntarism includes methods for dealing with pollution that

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Question 4

Which basic approach to environment policy may be the only workable solution in brief but serious emergencies that do not allow for time to plan and enact a systematic program?

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Question 5

China, the last large communist society,

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Question 6

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

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Question 7

Price controls on resources generally lead to surpluses.

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Question 8

Individuals and government have been contributors in harming the environment.

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Question 9

Which of the following is an example of detrimental externality?

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Question 10

The production of smoke as a pollutant is a failure of the market system.

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Question 11

Following the sharp increases in oil prices in the United States caused by the OPEC oil embargo of 1973-1974, U.S.automakers started building smaller, more fuel-efficient cars.This development caused the

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Question 12

Voluntary programs for reducing pollution

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Question 13

Identify the economist who first addressed the environmental problem in terms of externalities.

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Question 14

Taxes on polluting firms have

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Question 15

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

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Question 16

If a firm that emits a form of pollution is also a monopolist, is the firm more likely to be allocatively efficient? Explain.

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Question 17

A government currently uses price controls to hold down the price of zinc, an exhaustible resource.If price controls are removed,

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Question 18

The share of the burden of an emissions tax on output borne by the consumer of the polluting output will rise as

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Question 19

The use of tax penalties to control pollution represents a

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Question 20

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Exam 16: Externalities, the Environment, and Natural Resources

Americans are creating an enormous amount of solid waste daily-over 4 pounds per person per day.How is the United States coping with this extraordinary problem?

Economists believe that the goal of environmental policy should be zero pollution.

Among the factors that might lead to a divergence from the path of prices for a depletable resource predicted by the economic models are: (i) unexpected discoveries of new reserves; (ii) new technologies which reduce extraction costs.

Voluntarism includes methods for dealing with pollution that

Which basic approach to environment policy may be the only workable solution in brief but serious emergencies that do not allow for time to plan and enact a systematic program?

China, the last large communist society,

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

Price controls on resources generally lead to surpluses.

Individuals and government have been contributors in harming the environment.

Which of the following is an example of detrimental externality?

The production of smoke as a pollutant is a failure of the market system.

Following the sharp increases in oil prices in the United States caused by the OPEC oil embargo of 1973-1974, U.S.automakers started building smaller, more fuel-efficient cars.This development caused the

Voluntary programs for reducing pollution

Identify the economist who first addressed the environmental problem in terms of externalities.

Taxes on polluting firms have

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

If a firm that emits a form of pollution is also a monopolist, is the firm more likely to be allocatively efficient? Explain.

A government currently uses price controls to hold down the price of zinc, an exhaustible resource.If price controls are removed,

The share of the burden of an emissions tax on output borne by the consumer of the polluting output will rise as

The use of tax penalties to control pollution represents a

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 Useconomic Leadership Threatened

An Introduction to Macroeconomics

The Goals of Macroeconomic Policy

Economic Growth: Theory and Policy

Aggregate Demand and the Powerful Consumer

Demand-Side Equilibrium: Unemployment or Inflation

Bringing in the Supply Side: Unemployment and Inflation

Managing Aggregate Demand: Fiscal Policy

Money and the Banking System

Monetary Policy: Conventional and Unconventional

He Financial Crisis and the Great Recession

The Debate Over Monetary and Fiscal Policy

Budget Deficits in the Short and Long Run

The Trade-Off Between Inflation and Unemployment

International Trade and Comparative Advantage

The International Monetary System: Order or Disorder

Exchange Rates and the Macroeconomy

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