Question 1

The worst and most difficult to extract resources are used first.

Accepted Answer

A) True 
 B)False

Question 2

Wastes impose costs upon the community if they are

Accepted Answer

A) solid. 
B) liquid. 
C) gaseous. 
D) any of the above. 
A) solid. 
B) liquid. 
C) gaseous. 
D) any of the above.

Question 3

If suppliers of garbage collection services charged the full costs of providing the service,the supply curve would

Accepted Answer

A) change to a positive slope. 
B) change to a negative slope. 
C) shift to the left. 
D) shift to the right. 
A) change to a positive slope. 
B) change to a negative slope. 
C) shift to the left. 
D) shift to the right.

Question 4

One of the conclusions of A.C.Pigou was that

Accepted Answer

A) a system of mandatory controls is the only effective means to control pollution. 
B) a system of charges can be an effective means to control pollution. 
C) pollution will wither away if a socialist system is in place. 
D) pollution cannot be adequately addressed in a price system. 
A) a system of mandatory controls is the only effective means to control pollution. 
B) a system of charges can be an effective means to control pollution. 
C) pollution will wither away if a socialist system is in place. 
D) pollution cannot be adequately addressed in a price system.

Question 5

What are the implications of the law of conservation of matter and energy for recycling and waste disposal?

Accepted Answer

The physical law of conservation of matt

Question 6

Pollution taxes are more efficient in cleaning up the environment than direct controls.What role is there for direct controls?

Accepted Answer

A) They are useful standby mechanisms. 
B) They are useful if it is decided to prohibit the substance altogether. 
C) They are useful where dependable metering devices are not available or prohibitively costly to install. 
D) All of the above are true. 
A) They are useful standby mechanisms. 
B) They are useful if it is decided to prohibit the substance altogether. 
C) They are useful where dependable metering devices are not available or prohibitively costly to install. 
D) All of the above are true.

Question 7

Since World War II,

Accepted Answer

A) air pollution has worsened in most U.S. cities. 
B) many new pollutants have been introduced or identified. 
C) the federal government has reduced its reliance on economic incentives as a means of reducing pollution. 
D) All of the above are correct. 
A) air pollution has worsened in most U.S. cities. 
B) many new pollutants have been introduced or identified. 
C) the federal government has reduced its reliance on economic incentives as a means of reducing pollution. 
D) All of the above are correct.

Question 8

There is concern that CFCs,a chemical by-product of refrigeration,are destroying Earth's protective ozone layer,leaving us more vulnerable to cataracts and skin cancer.Suppose each air conditioner creates 10 pounds of CFCs.The demand and supply of air conditioners follow:
 
 What will be the free market price and quantity,and what will be the price and quantity if the government forces suppliers to pay a $100 tax for each air conditioner produced?

Accepted Answer

The free market equilibrium occurs at Q

Question 9

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 10

Describe how a pollution-control authority might use an emissions permits system to reduce pollution.

Accepted Answer

An authority could create a permit for a

Question 11

How the price of a depletable resource changes over time depends on

Accepted Answer

A) how the technology of resource extraction changes. 
B) the interest rate. 
C) how the technologies of production change in firms that use the resource. 
D) All of the above are correct. 
A) how the technology of resource extraction changes. 
B) the interest rate. 
C) how the technologies of production change in firms that use the resource. 
D) All of the above are correct.

Question 12

The increase in world oil prices during the 1970s was

Accepted Answer

A) the result of depletion of world reserves of oil. 
B) artificially created by OPEC. 
C) the result of extremely high growth rates in industrialized countries. 
D) fully reversed by 1982. 
A) the result of depletion of world reserves of oil. 
B) artificially created by OPEC. 
C) the result of extremely high growth rates in industrialized countries. 
D) fully reversed by 1982.

Question 13

A tax on polluting emissions will

Accepted Answer

A) provide incentives for firms to reduce the volume of polluting materials. 
B) raise revenue sufficient to eliminate the deficit. 
C) necessarily lower the price of the products. 
D) require no agency to administer the tax. 
A) provide incentives for firms to reduce the volume of polluting materials. 
B) raise revenue sufficient to eliminate the deficit. 
C) necessarily lower the price of the products. 
D) require no agency to administer the tax.

Question 14

Pollution is a relatively new phenomenon.

Accepted Answer

A) True 
 B)False

Question 15

If not recycled,an input used in production ultimately winds up as a waste product.

Accepted Answer

A) True 
 B)False

Question 16

Unregulated markets will tend to

Accepted Answer

A) rapidly deplete any natural resource. 
B) naturally conserve any depletable natural resource by pushing up its price every year by a constant dollar amount. 
C) naturally conserve a depletable resource by pushing up its price at a constant rate every year. 
D) deplete a resource unless new supplies are found. 
A) rapidly deplete any natural resource. 
B) naturally conserve any depletable natural resource by pushing up its price every year by a constant dollar amount. 
C) naturally conserve a depletable resource by pushing up its price at a constant rate every year. 
D) deplete a resource unless new supplies are found.

Question 17

Under EPA regulations,a factory

Accepted Answer

A) must pay for the right to pollute. 
B) can increase air pollution from its grinding process if it decreases air pollution from its smelting process. 
C) cannot under any circumstances build a polluting factory in an area where pollution standards are not being met by existing firms. 
D) None of the above is correct. 
A) must pay for the right to pollute. 
B) can increase air pollution from its grinding process if it decreases air pollution from its smelting process. 
C) cannot under any circumstances build a polluting factory in an area where pollution standards are not being met by existing firms. 
D) None of the above is correct.

The worst and most difficult to extract resources are used first.

Wastes impose costs upon the community if they are

If suppliers of garbage collection services charged the full costs of providing the service,the supply curve would

One of the conclusions of A.C.Pigou was that

What are the implications of the law of conservation of matter and energy for recycling and waste disposal?

Pollution taxes are more efficient in cleaning up the environment than direct controls.What role is there for direct controls?

Since World War II,

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

Describe how a pollution-control authority might use an emissions permits system to reduce pollution.

How the price of a depletable resource changes over time depends on

The increase in world oil prices during the 1970s was

A tax on polluting emissions will

Pollution is a relatively new phenomenon.

If not recycled,an input used in production ultimately winds up as a waste product.

Unregulated markets will tend to

Under EPA regulations,a factory

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 I: the Price System

The Shortcomings of Free Markets

The Markets Prime Achievement: Innovation and Growth

Taxation and Resource Allocation

Pricing the Factors of Production

Labor and Entrepreneurship: The Human Inputs

Poverty, Inequality, and Discrimination

International Trade and Comparative Advantage

Filters

Exam 17: Externalities, the Environment, and Natural Resources

The worst and most difficult to extract resources are used first.

Wastes impose costs upon the community if they are

If suppliers of garbage collection services charged the full costs of providing the service,the supply curve would

One of the conclusions of A.C.Pigou was that

What are the implications of the law of conservation of matter and energy for recycling and waste disposal?

Pollution taxes are more efficient in cleaning up the environment than direct controls.What role is there for direct controls?

Since World War II,

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

Describe how a pollution-control authority might use an emissions permits system to reduce pollution.

How the price of a depletable resource changes over time depends on

The increase in world oil prices during the 1970s was

A tax on polluting emissions will

Pollution is a relatively new phenomenon.

If not recycled,an input used in production ultimately winds up as a waste product.

Unregulated markets will tend to

Under EPA regulations,a factory

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 I: the Price System

The Shortcomings of Free Markets

The Markets Prime Achievement: Innovation and Growth

Taxation and Resource Allocation

Pricing the Factors of Production

Labor and Entrepreneurship: The Human Inputs

Poverty, Inequality, and Discrimination

International Trade and Comparative Advantage

Filters