EBK FOUNDATIONS OF ECONOMICS
8th Edition
ISBN: 9780134516196
Author: BADE
Publisher: PEARSON CO
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Textbook Question
Chapter 11, Problem 5MCQ
A renewable common resource is used sustainably if ____________ .
A. private benefits and public benefits are equal
B. private benefits equal private costs
C. the rate of renewal of the resource equals its rate of use
D. the rate of use of the resource equals the social benefit from its use
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4.1 A ________ provides money that does not need to be repaid. It is intended to promote renewable energy projects and is primarily available to commercial, industrial, utility, are educational institutions.
a. Loan
b. Incentive
c. Grant
d. Lease
4.2 In 1838 the photovoltaic industry was started when Alexandre Edmund Becquerel discovered ______.
a. The Becquerel principle
b. The photovoltaic effect
c. Solar radiation
d. Solar irradiance
4.3 A(n) _______ converts DC electricity to AC electricity.
a. Converter
b. Inventer
c. Coupler
d. Transformer
4.4 A ______ system collects solar radiation from the sun and converts it directly into DC (direct current) electricity.
a. Solar thermal
b. Solar architectural
c. Photovoltaic
d. Radiator
What are the definitions of local public goods, club goods and congestible goods?
Name two examples of renewable natural resources
Chapter 11 Solutions
EBK FOUNDATIONS OF ECONOMICS
Ch. 11 - Prob. 1SPPACh. 11 - Prob. 2SPPACh. 11 - Prob. 3SPPACh. 11 - Prob. 4SPPACh. 11 - Prob. 5SPPACh. 11 - Prob. 6SPPACh. 11 - Prob. 7SPPACh. 11 - Prob. 8SPPACh. 11 - Prob. 9SPPACh. 11 - Prob. 10SPPA
Ch. 11 - Prob. 1IAPACh. 11 - Prob. 2IAPACh. 11 - Prob. 3IAPACh. 11 - Prob. 4IAPACh. 11 - Prob. 5IAPACh. 11 - Prob. 6IAPACh. 11 - Prob. 7IAPACh. 11 - Prob. 8IAPACh. 11 - Prob. 9IAPACh. 11 - Prob. 1MCQCh. 11 - Prob. 2MCQCh. 11 - Prob. 3MCQCh. 11 - Prob. 4MCQCh. 11 - A renewable common resource is used sustainably if...Ch. 11 - Prob. 6MCQCh. 11 - Prob. 7MCQCh. 11 - When ITQs are assigned, the market price of an ITQ...
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- List 3 primary sources and 3 secondary sources supporting the argument as to why the government should support cutting and possibly eliminating most carbon emissions to prevent human contributions to Global Warming and climate change.arrow_forwardBriefly explain the following terms with regards to Economical evaluation of environmental goods and services using suitable examples. Use value Option value Non-use value Bequest valuearrow_forward(b) Briefly explain the following terms with regards to Economical evaluation of environmental goods and services using suitable examples. (i) Use value (ii) Option value (iii) Non-use value (iv) Bequest valuearrow_forward
- On Tuesday 4 October this year, the Minister for the Environment, Tanya Plibersek, announced a new strategy to protect Australia’s threatened plant and animal species. The Saving Native Species Plan will cost $224.5 million. (a) How would you define the benefits of this expenditure? (b) Could the economic benefits be quantified?arrow_forwardAssessment 1.4 1. Explain What is the connection between natural capital, natural income, and an environmentally sustainable society? 2. Summarize Name the early individuals who had a major impact on the American public’s awareness of the environment and sustainability, and explain their accomplishments. 3. Classify Into which category of environmental worldview would you put the early preservationists? Into which category would you put the early conservationists? 4. Evaluate In the 1970s, public opinion favored cleaning up the environment. Since the 1980s, some members of Congress and industry leaders have fought against environmental laws that regulate the amount of pollution that can be added to the environment. Are they working in the best interests of the public or of corporations?arrow_forwardA large supermarket applied to build on land which was in an area of natural beauty. The local government allowed the building, even though the natural beauty of the area would be lost, because many jobs would be created and much needed income would be brought to the local community. Which economic ideas cannot be found in the above statement? A external cost and private enterprise B free market and the conservation of resources C opportunity cost and improved standards of living D public sector and external benefitarrow_forward
- What role do property rights play in creating common property resources? Why are common property resources subject to market failure due to non-excludability?arrow_forwardConcepts illustrated in the Tragedy of Commons that we need to recognize include undersanding natural sysems and how they operate. being aware of how the reality of human nature can impact resources . considering how the Tragedy of the Commons connects with the oncept of sustainability . BOTH being aware of how the reality of human nature can impact resources AND considering how the Tragedy of the Commons connects with the concept of susainability all of the above. The name of the class is introduction to sustainability.arrow_forward2. Because of issues of rivalry and excludability, greenhouse gas emissions can BEST be called a negative private good. False Truearrow_forward
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