Environmental Economics An Introduction 7th Edition By Field – Test Bank

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Sample Questions Posted Below

 

 

 

 

Chapter 05

The Economics of Environmental Quality

 

 

Multiple Choice Questions

  1. Determining a target level of environmental quality is an example of _______.
    A.positive policy analysis
    B. positive economics
    C. normative policy analysis
    D. benefit-cost analysis


Difficulty: Easy

  1. For certain pollutants with a(n) _______, emissions or ambient quality up to a certain level cause _________ damages.
    A.threshold; no
    B. ambient concentration; no
    C. threshold; severe
    D. ambient concentration; severe

Difficulty: Easy

  1. A marginal damage function that becomes vertical at high levels of emissions represents _______.
    A.a threshold
    B. an infinite ambient concentration
    C. a toxic pollutant
    D. an environmental catastrophe


Difficulty: Easy

 

 

  1. A(n) ________ shows how damages are related to the concentration of a waste product contained in the ambient environment.
    A.emission damage function
    B. ambient damage function
    C. marginal damage function
    D. ambient concentration

Difficulty: Easy

 

 

Figure 5.1

  1. Refer to Figure 5.1. Total damages associated with damage curve MD1 at an emissions level of e1 is
    A.$12
    B. $28
    C. area a
    D. area b


Difficulty: Easy

  1. Refer to Figure 5.1. Total damages associated with damage curve MD2 at an emissions level of e1 is
    A.$28
    B. area a
    C. area b
    D. area a + b


Difficulty: Easy

  1. Refer to Figure 5.1. The change in damages associated with a shift from MD1 to MD2 at an emissions level of e1 is
  2. $28 – $12
    B.area a
    C. area b
    D. area a + b


Difficulty: Easy

  1. For a firm with more than one source of output with differing cost structures, its ________ will be minimized when its ________ are equalized across sources.
    A.marginal production costs; production levels
    B. total production costs; production levels
    C. total production costs; marginal production costs
    D. marginal production costs; total production costs

 


Difficulty: Easy

  1. For a firm with more than one source of emissions, the ________ states that the total costs of abating a given abatement target will be minimized when the marginal costs of abatement are ________ across sources.
    A.equimarginal principle; equalized
    B. law of one price; equalized
    C. equimarginal principle; minimized
    D. Coase theorem; equalized


Difficulty: Easy

 

 

  1. Under what circumstances would a firm with more than one source of emissions minimize its total costs of abatement by setting abatement levels equal at each source?
    A.This method will always result in the firm minimizing its total abatement costs.
    B. When each source has identical marginal cost of production structures.
    C. When each source has identical marginal abatement cost structures.
    D. When each source has identical marginal damage cost structures.


Difficulty: Moderate

  1. Under what circumstances would a firm with more than one source of production minimize its total costs of production by setting production levels equal at each source?
    A.This method will always result in the firm minimizing its total production costs.
    B. When each source has identical marginal cost of production structures.
    C. When each source has identical marginal abatement cost structures.
    D. When each source has identical marginal damage cost structures.


Difficulty: Moderate 

 

 

  1. The study of what ought to be such as determining the socially efficient level of emissions is known as
  2. normative economics
    B. positive economics
    C. equimarginal principle
    D. Coase theorem

 

 

Difficulty: Easy

 

 

  1. Describing and explaining economic events that have taken place in the real world is known as
    A.normative economics
    B. positive economics
    C. equimarginal principle
    D. Coase theorem

 


Difficulty: Easy

  1. For a single, non-accumulative pollutant, when no threshold exists
  2. the marginal damage functions begins below the origin.
    B.release of the pollutant into the environment is safe at very low levels.
    C. the marginal damage function begins at the origin.
    D. the very first unit of emissions has an impact on the environment.

 


Difficulty: Easy

  1. The height of the marginal damage curve at a particular level of emissions shows
    A.the amount of accumulated damaging material in the ambient environment.
    B. the concentration of damaging material in the ambient environment.
    C. the number of people damaged by the emission.
    D. how much total damages change if there is a small change in the quantity of emissions.


Difficulty: Easy

 

  1. The least costly way of achieving reductions in emissions for a group of polluting sources is depicted by
  2. adding individual marginal abatement cost curves together to represent one curve
    B.the aggregate marginal abatement cost function of the group of sources
    C.  a single marginal abatement cost curve that accumulates curves for each individual source
    D.  all of the above

 


Difficulty: Easy

 

 

 

 

 

 

 

 

  1. Which figure above represents a greater total abatement cost than total damage cost at the socially optimal point of emissions?
  2. Figure (a)
    B.Figure (b)
    C. Figure (c)
    D.  Figures (a),(b) and (c)


Difficulty: Easy

 

  1. Which figure above represents a marginal damages curve with a threshold ?
  2. Figure (a)
    B.Figure (b)
    C. Figure (c)
    D.  Figures (a),(b) and (c)


Difficulty: Easy

 

 

 

  1. Which figure above represents a social optimum at e*?
  2. Figure (a)
    B.Figure (b)
    C. Figure (c)
    D.  Figures (a), (b) and (c)


Difficulty: Easy

 

 

 

 

 

 

 

 

 

 

 

 

 

  1. Which of the above figures reveals a marginal damage curve that displays a threshold?
  2. Figure (a)
    B. Figure (b)
    C.Neither Figure (a) nor (b)
    D.  Both Figures (a) and (b)


Difficulty: Easy

 

  1. The change in damages represented by the change socially optimal emission level from MAC1 to MAC2 in Figure (b) can be described as
  2. (a+b)–(b+c)
    B. (a-c)
    C.(b+c)
  3. Both A. and B.


Difficulty: Easy

 

 

  1. Which of the above figures reveals a marginal damage curve that displays a threshold?
  2. Figure (a)
    B. Figure (b)
    C.Neither Figure (a) nor (b)
    D.  Both Figures (a) and (b)


Difficulty: Easy

 

 

  1. In Figure (a) above, we can see that as the marginal damage curve rises, representing increased damages for every unit of emissions, the socially optimal level of emissions
  2. remains unchanged
    B. increases
    C.decreases
  3. is indeterminate


Difficulty: Easy

 

 

 

 

  1. Review the figure above. When enforcement costs are considered, abatement costs  _______ and the socially optimal level of emissions ______________ .
  2. A.increase; increase
    increase; decrease
    C. decrease; increase
    D.  decrease; decrease


Difficulty: Easy

 

 

 

 

 

  1. Review the table above. Assume that one firm operates both sources and does not control emissions.  If the firm is required to reduce emissions to a total of 15 tons per week, how should emissions be distributed between the two sources?
  2. Source A $6,000/wk; Source B $6,000/wk
    B. Source A 6 tons/wk; Source B 9 tons/wk
    C.Source A 4 tons/wk; Source B 8 tons/wk
    D.  Sources A $10,000/wk; Source B $10,000/wk


Difficulty: Easy

 

 

 

 

 

 

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