Exam 19: Economics of Energy, the Environment, and Global Climate Change Glossary

Over the last century and a half,per capita energy use in the United States has more than tripled,with most of the increases occurring in the last 30 years.

Command-and-control approaches to reducing pollution can be criticized on the grounds that they may be all of the following EXCEPT

Concerns about running out of oil are legitimate because it has been several decades since oil companies have found new oil fields.

Which of the following is the most widely used energy source in the world?

Briefly describe revealed preference and stated preference as means of determining the value of a statistical life.

Which of the following is NOT an example of a negative externality?

In 1972,the EPA banned the pesticide DDT.How would you classify this approach to reducing the environmental contamination caused by DDT?

As of 2010,the Environmental Protection Agency considers $7.9 million to be the

Among the characteristics of the command-and-control approach to pollution reduction is that it is

Which of the following statements is true?

One of the characteristics of the cap-and-trade system is that

Energy conservation is a shift in economic activities to make the use of energy less costly.

An externality is a side effect from an exchange that affects someone other than the buyer and seller.

If the cost of the negative pollution externality was added to the marginal cost of production,the true cost curve would be

Suppose the U.S.government imposes a requirement that all passenger cars achieve a minimum fuel economy of 25 miles per gallon combined fuel efficiency.What impact would this have on the price of gasoline? What impact do you think this would have on deaths from traffic accidents?

One of the characteristics of a carbon tax is that it would

Renewable energy sources,such as solar,hydro,and wind power,make up about half of all energy production in the world today.

Since the mid-1970s,energy use per person in the United States has

When electricity buyers and electric utility companies trade with one another,the electric utilities may generate electricity with a coal-burning power plant.This produces sulfur dioxide,nitrogen dioxide,particulates,and other air pollutants,which affect people who may not be among the buyers or sellers.This phenomenon is known as

A majority of the world's energy supply today comes from fossil fuels,such as coal,oil,and natural gas.