Question 1

According to data from the UN Food and Agriculture Organization, from 2010 to 2015 the amount of land worldwide that's covered by forests

Accepted Answer

A)  expanded by about 5 percent.
B)  shrank by about 3 percent.
C)  stayed roughly constant.
D)  shrank by about 12 percent.E) C) and D)
F) All of the above

Question 2

The table shows the quantity of gold bars in thousands, the extraction cost for each thousand bars (in millions of dollars) , and the user cost of each thousand bars (in millions of dollars) facing the OZ Mining Company this year (all costs are marginal) . If the current price of a bar of gold is $25,000, how many bars (in thousands) should OZ extract and sell this year in order to maximize profits?

Accepted Answer

A)  1
B)  2
C)  3
D)  4E) All of the above
F) A) and B)

Question 3

A fishery collapse happens when a fishery's population grows faster than fish can be harvested.

Accepted Answer

A) True 
 B)False

Question 4

According to U.S. Energy Information Administration data, about what percentage of U.S. electricity was generated by coal-fired plants in 2017?

Accepted Answer

A)  10 percent
B)  30 percent
C)  20 percent
D)  60 percentE) B) and C)
F) A) and C)

Question 5

Describe the Tragedy of the Commons and how it relates to public grazing plots.

Accepted Answer

The commons were public patches of grazi...

Question 6

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. 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, her profit would be

Accepted Answer

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

Question 7

Productive inputs that are actually or virtually fixed in supply are known as

Accepted Answer

A)  renewable natural resources.
B)  natural capital.
C)  nonrenewable natural resources.
D)  alternative fuels.E) B) and C)
F) A) and C)

Question 8

Negative externalities from energy production should be considered when comparing the cost of an energy source, because they

Accepted Answer

A)  improve energy production.
B)  reduce the total costs of production.
C)  are an additional cost of using that source.
D)  are taxed or subsidized by government to encourage production.E) B) and D)
F) A) and D)

Question 9

Define the demographic transition, and list the three steps in this shift.

Accepted Answer

The demographic transition refers to the...

Question 10

Consider an oil company that can pump oil from a reserve either this year or next year. As expected future profits decrease, the extraction quantity this year

Accepted Answer

A)  increases due to a higher user cost.
B)  increases due to a lower user cost.
C)  decreases due to a higher user cost.
D)  decreases due to a lower user cost.E) A) and B)
F) All of the above

Question 11

The world's population increased rapidly from 1800 to the present day because of higher

Accepted Answer

A)  birthrates and lower standards of living.
B)  standards of living and higher birthrates.
C)  standards of living and lower death rates.
D)  death rates and higher standards of living.E) B) and C)
F) A) and D)

Question 12

Elephants are moving closer to extinction in places where they are treated as private property.

Accepted Answer

A) True 
 B)False

Question 13

Make the case that the United States is not running out of oil or energy.

Accepted Answer

This concern is based largely on the pos...

Question 14

Matt fishes for tuna at a cost of $4 per ton. John fishes at a cost of $6 per ton. Each has a 1,000-ton ITQ. The current market price is $8 per ton. What amount could Matt pay John to induce him to sell his ITQ?

Accepted Answer

A)  $1,000
B)  $2,000
C)  $3,000
D)  It would not be profitable for Matt to buy John's ITQ.E) None of the above
F) A) and C)

Question 15

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

Accepted Answer

A) True 
 B)False

Question 16

Which of the following is true about U.S. energy consumption and per capita real GDP since 1990?

Accepted Answer

A)  Per capita energy consumption and per capita real GDP have both risen.
B)  Per capita energy consumption has fallen, while per capita real GDP has risen.
C)  Per capita energy consumption and per capita real GDP have both fallen.
D)  Per capita consumption of energy has been unchanged, while per capita real GDP has risen.E) A) and B)
F) B) and C)

Question 17

Definition of property rights is a key component to proper conservation of resources.

Accepted Answer

A) True 
 B)False

Question 18

If a country's replacement rate is two births per woman and its total fertility rate is four births per woman, the country's population will decline.

Accepted Answer

A) True 
 B)False

Question 19

The key difficulty with fishery management is that

Accepted Answer

A)  the only way to establish property rights over a fish swimming in the ocean is to catch and kill it.
B)  fishery management deals with live resources while forestry does not.
C)  it deals with a nonrenewable resource.
D)  there are so many types of fish, and they're found in so many locations.E) C) and D)
F) B) and D)

Question 20

As of 2018, the world's population is approximately

Accepted Answer

A)  7.7 billion.
B)  6.3 billion.
C)  10 billion.
D)  1.2 trillion.E) A) and D)
F) B) and C)

Exam 19: Natural Resource and Energy Economics

The world's population increased rapidly from 1800 to the present day because of higher

Correct Answer
verified

Elephants are moving closer to extinction in places where they are treated as private property.

Correct Answer
verified

Make the case that the United States is not running out of oil or energy.

Correct Answer
verified
This concern is based largely on the pos...
View Answer

If a country's replacement rate is two births per woman and its total fertility rate is four births per woman, the country's population will decline.

Correct Answer
verified

Correct Answer
verified

Definition of property rights is a key component to proper conservation of resources.

Correct Answer
verified

Describe the Tragedy of the Commons and how it relates to public grazing plots.

Correct Answer
verified
The commons were public patches of grazi...
View Answer

Which of the following is true about U.S. energy consumption and per capita real GDP since 1990?

Correct Answer
verified

According to U.S. Energy Information Administration data, about what percentage of U.S. electricity was generated by coal-fired plants in 2017?

Correct Answer
verified

The key difficulty with fishery management is that

Correct Answer
verified

Define the demographic transition, and list the three steps in this shift.

Correct Answer
verified
The demographic transition refers to the...
View Answer

Matt fishes for tuna at a cost of $4 per ton. John fishes at a cost of $6 per ton. Each has a 1,000-ton ITQ. The current market price is $8 per ton. What amount could Matt pay John to induce him to sell his ITQ?

Correct Answer
verified

According to data from the UN Food and Agriculture Organization, from 2010 to 2015 the amount of land worldwide that's covered by forests

Correct Answer
verified

As of 2018, the world's population is approximately

Correct Answer
verified

Correct Answer
verified

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

Correct Answer
verified

Productive inputs that are actually or virtually fixed in supply are known as

Correct Answer
verified

Negative externalities from energy production should be considered when comparing the cost of an energy source, because they

Correct Answer
verified

A fishery collapse happens when a fishery's population grows faster than fish can be harvested.

Correct Answer
verified

Consider an oil company that can pump oil from a reserve either this year or next year. As expected future profits decrease, the extraction quantity this year

Correct Answer
verified

Exam 19: Natural Resource and Energy Economics

The world's population increased rapidly from 1800 to the present day because of higher

Correct AnswerverifiedShow Answer

Elephants are moving closer to extinction in places where they are treated as private property.

Correct AnswerverifiedShow Answer

Make the case that the United States is not running out of oil or energy.

Correct AnswerverifiedThis concern is based largely on the pos...View AnswerShow Answer

If a country's replacement rate is two births per woman and its total fertility rate is four births per woman, the country's population will decline.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Definition of property rights is a key component to proper conservation of resources.

Correct AnswerverifiedShow Answer

Describe the Tragedy of the Commons and how it relates to public grazing plots.

Correct AnswerverifiedThe commons were public patches of grazi...View AnswerShow Answer

Which of the following is true about U.S. energy consumption and per capita real GDP since 1990?

Correct AnswerverifiedShow Answer

According to U.S. Energy Information Administration data, about what percentage of U.S. electricity was generated by coal-fired plants in 2017?

Correct AnswerverifiedShow Answer

The key difficulty with fishery management is that

Correct AnswerverifiedShow Answer

Define the demographic transition, and list the three steps in this shift.

Correct AnswerverifiedThe demographic transition refers to the...View AnswerShow Answer

Matt fishes for tuna at a cost of $4 per ton. John fishes at a cost of $6 per ton. Each has a 1,000-ton ITQ. The current market price is $8 per ton. What amount could Matt pay John to induce him to sell his ITQ?

Correct AnswerverifiedShow Answer

According to data from the UN Food and Agriculture Organization, from 2010 to 2015 the amount of land worldwide that's covered by forests

Correct AnswerverifiedShow Answer

As of 2018, the world's population is approximately

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Productive inputs that are actually or virtually fixed in supply are known as

Correct AnswerverifiedShow Answer

Negative externalities from energy production should be considered when comparing the cost of an energy source, because they

Correct AnswerverifiedShow Answer

A fishery collapse happens when a fishery's population grows faster than fish can be harvested.

Correct AnswerverifiedShow Answer

Consider an oil company that can pump oil from a reserve either this year or next year. As expected future profits decrease, the extraction quantity this year

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
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Correct Answer
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This concern is based largely on the pos...
View Answer

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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The commons were public patches of grazi...
View Answer

Correct Answer
verified

Correct Answer
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Correct Answer
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Correct Answer
verified
The demographic transition refers to the...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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