Exam 12: Biophysical Limits to Economic Growth: the Neoclassical Perspective

Figure A -Refer to Figure A. Which of the following moves would benefit at least one of the generations without affecting the well being of the other generation?

Which of the following statements about strong sustainability is correct?

With weak sustainability, the transfer of the capital stock from one generation to the next can be in any form.

The neoclassical approach to sustainability assumes that natural capital is a nonbinding constraint on sustainability.

The safe minimum standard approach …

The Brundtland Commission Report definition of sustainable development implies that development is measured through increases in the production of goods and services.

Which one of the following statements best describes a difference between weak and strong sustainability?

The Brundtland Commission Report definition of sustainable development is consistent with the theoretical frameworks for sustainability developed by followers of both the neoclassical and ecological schools of economics.

The earliest attempt to construct a theoretical model of a sustainable economy with an explicit account of biophysical limits traces its roots to Herman Daly in 2007.

Weak sustainability allows an economy a great deal of flexibility since the various types of capital stocks are considered to be close substitutes.

The Hartwick sustainability rule states that maintaining constant real consumption of goods and services is possible even in the presence of exhaustible resources.

The neoclassical economics variation of sustainability is most commonly referred to as weak sustainability because it renders natural capital as an absolute necessity for sustaining net national income.

The Brundtland Commission Report definition of sustainability has a very strong ethical component.

In which of the following ways does the safe minimum standard (SMS) approach to sustainability does not invalidate the standard economics approach to resource assessment and management?

The Brundtland Commission Report attempted to define sustainable development as development which meets the needs of the future.

The safe minimum standard approach in practice really mimics the neoclassical approach to sustainability.

A 'general' rule of sustainability criterion is to achieve which of the following?

The neo-classical approach generally assumes that ...

Figure A -Refer to Figure A. Which of the following is correct?

Figure A -Refer to Figure A. Which of the following is correct concerning a move from point G to point H?