This quiz works best with JavaScript enabled. Home > Finance > Economics > Environmental Economics > Environmental Economics – Quiz 6 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Environmental Economics Quiz 6 (30 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Economics factors should be considered when A) Reducing the number of oil spills. B) Increasing the amount of waste in logging. C) Making any environmental decisions. D) None of these are correct. E) All choices are correct. Show Answer Correct Answer: C) Making any environmental decisions. 2. A power company is given free land by the government to reduce the cost of providing wind-generated electricity to rural residents. This is an example of a A) Command and control approach. B) Cap and trade system. C) Subsidy. D) Green tax. Show Answer Correct Answer: C) Subsidy. 3. Climate Economics-Which statement about the discount rate in studies about the economic costs of climate change is not correct? A) That future costs matter less if society is richer in the future is one of the motivations for discounting. B) Using a higher discount rate results in a higher value of the social costs of carbon. C) Individual impatience is one of the motivations for discounting. D) Estimates of the social costs of carbon are sensitive to the assumed discount rate value. Show Answer Correct Answer: B) Using a higher discount rate results in a higher value of the social costs of carbon. 4. This solution sets legal limit on the amount of the pollutant allowed to emit A) Cap-and-trade system. B) Emission standards. C) Emissions Charges. D) None above. Show Answer Correct Answer: B) Emission standards. 5. The curve that shows that until a country is wealthy it won't address environmental problems is called A) Kuznets. B) Cruisenets. C) Wealth Curve. D) Monetary Curve. Show Answer Correct Answer: A) Kuznets. 6. There are several risk analysis models, except A) Risk exposure. B) Hazard identification. C) Dose-response analysis. D) Exposure analysis. Show Answer Correct Answer: A) Risk exposure. 7. Jonathan went to a local store to buy a new bicycle. Which of the following is a value that is not usually included in the price of the bicycle? A) Store's policy. B) Non-market value. C) Economic factors. D) Demand for bicycles. Show Answer Correct Answer: B) Non-market value. 8. ..... is the Law that rules our economy A) Supply and demand. B) Supply and resource. C) Consumer benefits. D) Consumer and supply. Show Answer Correct Answer: A) Supply and demand. 9. Which school of economics views the earth's natural capital as a subset, or part, of a human economic system? A) Neoclassical. B) Classical. C) Capitalistic. D) Socialistic. E) Ecological. Show Answer Correct Answer: A) Neoclassical. 10. Efficiency criteria in environmental management A) MSB does not need to be large. B) MSB < MSC. C) MSB = MSC. D) MSC must exist. Show Answer Correct Answer: C) MSB = MSC. 11. Why producers produce low quality goods? A) Because of the plenty availability of cheap raw materials. B) In order to increase their profit margins. C) They are monopolists. D) Consumers demand is inelastic. Show Answer Correct Answer: B) In order to increase their profit margins. 12. Which of the following is true about the environment? A) Provides Raw Material. B) Sink for Emissions & Waste. C) Affects economic growth & well being. D) All of these. Show Answer Correct Answer: D) All of these. 13. Most major laws in modern U.S. environmental policy were enacted in the A) 1960's and 1970's. B) 1980's and 1990's. C) Years between 2000 and 2005. D) Years between 2005 and 2010. Show Answer Correct Answer: A) 1960's and 1970's. 14. Jenis environmental standard adalah A) Ambient standard. B) Technology-based standard. C) Performance-based standard. D) Semua benar. Show Answer Correct Answer: D) Semua benar. 15. Economic decisions are based on how to allocate: A) Fossil fuels. B) Benefits. C) Scarce resources. D) Products and services. Show Answer Correct Answer: C) Scarce resources. 16. Marginal damage costs generally A) Decrease with the amount of pollution. B) Increase with the amount of pollution. C) Constant with the amount of pollution. D) None of above. Show Answer Correct Answer: B) Increase with the amount of pollution. 17. Which of the following pollution levels is the optimal level of pollution according to economists? A) Pollution according to the equimarginal principle. B) Unregulated market outcome. C) When the marginal damage of pollution is smaller than the marginal benefits. D) Zero pollution. Show Answer Correct Answer: A) Pollution according to the equimarginal principle. 18. Perhaps India's worst industrial-environmental tragedy, the Bhopal Gas Tragedy happened in which year? A) 1984. B) 1980. C) 1986. D) 1982. Show Answer Correct Answer: A) 1984. 19. For a project to qualify on cost-benefit grounds, A) Benefits must exceed costs. B) Costs must at least exceed benefits. C) Benefits equal exceed costs. D) Cost must exceed benefits. Show Answer Correct Answer: A) Benefits must exceed costs. 20. Jaden and Conner started a lemonade stand. They are trying to understand how their lemons and sugar become lemonade that is sold and consumed by their customers. What is this study called? A) Supply. B) Policy. C) Economics. D) Demand. Show Answer Correct Answer: C) Economics. 21. The pollutants cause damage near the source of emissions. The pollutants refers to A) Global pollutants. B) Regional pollutants. C) Local pollutants. D) None above. Show Answer Correct Answer: C) Local pollutants. 22. Altruistic Value A) Are related to actual use of the good or planned use orpossible use. B) The values have no actual or planned use for himselfor herself or for anyone else. C) Might arise when the individual is concerned thatthe good in question should be available to others in the currentgeneration. D) People may be willing to pay to maintain a good inexistence in order preserve the option of using it in the future. Show Answer Correct Answer: C) Might arise when the individual is concerned thatthe good in question should be available to others in the currentgeneration. 23. Cap and trade is a process that businesses may use to A) Purchase pollution credits from other companies. B) Wear caps to work and trade them with other workers. C) Pollute more than they are allowed using carbon credits. D) Decrease their pollution by using technology. Show Answer Correct Answer: A) Purchase pollution credits from other companies. 24. The specificity rule states that ..... A) Policy solutions should be targeted directly at the source of a problem. B) Per-capita environmental impacts eventually decrease as affluence levels increase. C) International trade organisations should be responsible for environmental protection. D) Free trade will tend to increase social welfare because of comparative advantage. E) Imports cannot be restricted because of specific production practices in the exporting country. Show Answer Correct Answer: A) Policy solutions should be targeted directly at the source of a problem. 25. Val owns a bakery and she is planning to sell a new type of bread. What is the amount of this new bread that Val is planning to offer for sale at a given price? A) Supply. B) Lobbying. C) Non-market value. D) Cost-benefit analysis. Show Answer Correct Answer: A) Supply. 26. Who is responsible for the degradation of biodegradable organic mattes present in the domestic sewage? A) Animals. B) Humans. C) Plastic. D) Bacteria and other microbes. Show Answer Correct Answer: D) Bacteria and other microbes. 27. Environment can absorb organic pollutants and carbon dioxide. Those pollutants are categorized as A) Stock pollutants. B) Local pollutants. C) Fund pollutants. D) Global pollutants. Show Answer Correct Answer: C) Fund pollutants. 28. Environmental quality is almost the same as in the case of public goods, the characteristics of public goods are? A) Nonrival in consumption-nonexcludable. B) Rival in consumption-Excludable. C) Unexpected consumption and exclusion. D) All true. Show Answer Correct Answer: A) Nonrival in consumption-nonexcludable. 29. Global Climate Change-A major difference between the Nordhaus and Stern analyses of climate change is ..... A) The probability of increases in hurricanes and other storms. B) Assumptions about the change in agricultural productivity. C) The choice of the value of a human life. D) The choice of the discount rate. E) The estimate of the spread of tropical diseases. Show Answer Correct Answer: D) The choice of the discount rate. 30. A market model that is suitable for analyzing environmental problems is A) Monopoly market. B) Free market. C) Hypothetical market. D) All true. Show Answer Correct Answer: C) Hypothetical market. ← PreviousNext →Related QuizzesEconomics QuizzesFinance QuizzesEnvironmental Economics Quiz 1Environmental Economics Quiz 2Environmental Economics Quiz 3Environmental Economics Quiz 4Environmental Economics Quiz 5Environmental Economics Quiz 7 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books