Question 1
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Economics is the study of how people decide to use resources to provide goods and services.
Question 2
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What is the oldest type of economy?
Question 3
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Adam Smith believed that self-interest behavior could benefit society, as long as the behavior was constrained by the rule of law and private property rights and operated within fairly competitive markets.
Question 4
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All of the following are external costs EXCEPT:
Question 5
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Our global economy is seven times the size it was just half a entry ago?
Question 6
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Cost-benefit analysis is:
Answer
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Totaling up estimated costs for a proposed action and comparing these to the sum of benefits estimated to result from the action.
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Seller desire the highest possible price.
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Costs will always exceed. This should always be chosen over benefits.
Question 7
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Environmental economists tend to disagree with ecological economists that economies are unsustainable if population growth is not reduced?
Question 8
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An example of a nonmarket value is:
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Additional money that should have been included in the sales of property.
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Aesthetics and recreational pleasure we obtain from natural landscapes.
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Goods and materials lost that should have been accounted for.
Question 9
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Market failure occurs when markets do not take into account the environment's positive contribution to economies?
Question 10
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Is policy that pertains to human interactions with the environment.
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Is policy made by governments.
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Does not have a set of formal rules or plans.
Question 11
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The Environmental Protection Agency has nothing to do with politics.
Question 12
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Historians suggest that major advances in environmental policy occurred in the 1960's and 1970's because:
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Evidence of environmental problems became widely and readily apparent.
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People could visualize policies to deal with the problems.
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The political climate was ripe, with a supportive public and leaders who were willing act.
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All of the above.
Question 13
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The United Nations (UN) represents multinational corporations and promotes free trade by reducing obstacles to international commerce and enforcing fairness among nations in trading practices.
Question 14
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Which of the following is NOT a step in the policy process?
Question 15
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Ecolabeling tells consumers which brands use environmentally benign processes.
Question 16
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Green taxes have no drawbacks;businesses will pay the taxes for consumers.