Econ 2100 Test 1 Dinkar
Kuchibhotla with complete
verified solutions
True or False? Economists use models to test theories about economic
relationships and make predictions about behavioral and institutional
reactions to changes in market conditions. - answer True
At a fundamental level, pollution is the result of production and consumption
decisions made by
A. both households and firms
B. neither firms nor individuals
C. firms
D. individuals - answer Both households and firms
A circular flow model involves flows of economic activity through
A. factor and output markets
B. factor market
C. neither factor nor output markets
D. output market - answer Factor and output markets
In the Materials Balance Model, an increase in population (holding all else
constant) will lead to ____ extraction of natural resources. Pick the answer
choice that best fits.
A. lesser
B. no change
C. greater
D. can't be determined - answer Greater
, In the Materials Balance Model, by recycling, it is possible to prevent the flow
of residuals back into nature?
A. True
B. False
C. Maybe
D. Don't know - answer False
Anthropogenic pollutants (resulting from human activity) are of ____ concern
for environmental economics compared with natural pollutants.
A. lesser
B. no concern
C. least concern
D. greater - answer Greater
Allocative efficiency
A. is not relevant to environmental policy.
B. calls for the equality of additional benefits and additional costs.
C. is automatically achieved when cost-effectiveness is achieved.
D. requires that the total costs to society linked to environmental policy are
equivalent to the associated total benefits. - answer Calls for the equality of
additional benefits and additional costs.
Environmental Economics
A. is concerned mainly with the residual flow from economic activity back to
nature.
B. focuses on the flow of resources from nature to economic activity.
C. recognizes that the flow of residuals back to nature is completely
preventable.
Kuchibhotla with complete
verified solutions
True or False? Economists use models to test theories about economic
relationships and make predictions about behavioral and institutional
reactions to changes in market conditions. - answer True
At a fundamental level, pollution is the result of production and consumption
decisions made by
A. both households and firms
B. neither firms nor individuals
C. firms
D. individuals - answer Both households and firms
A circular flow model involves flows of economic activity through
A. factor and output markets
B. factor market
C. neither factor nor output markets
D. output market - answer Factor and output markets
In the Materials Balance Model, an increase in population (holding all else
constant) will lead to ____ extraction of natural resources. Pick the answer
choice that best fits.
A. lesser
B. no change
C. greater
D. can't be determined - answer Greater
, In the Materials Balance Model, by recycling, it is possible to prevent the flow
of residuals back into nature?
A. True
B. False
C. Maybe
D. Don't know - answer False
Anthropogenic pollutants (resulting from human activity) are of ____ concern
for environmental economics compared with natural pollutants.
A. lesser
B. no concern
C. least concern
D. greater - answer Greater
Allocative efficiency
A. is not relevant to environmental policy.
B. calls for the equality of additional benefits and additional costs.
C. is automatically achieved when cost-effectiveness is achieved.
D. requires that the total costs to society linked to environmental policy are
equivalent to the associated total benefits. - answer Calls for the equality of
additional benefits and additional costs.
Environmental Economics
A. is concerned mainly with the residual flow from economic activity back to
nature.
B. focuses on the flow of resources from nature to economic activity.
C. recognizes that the flow of residuals back to nature is completely
preventable.
