Exam 23: Economics, Environment, and Sustainability

Companies lobbying for government subsidies, tax breaks, or regulations that give them an advantage create an even economic field for competition.

A ____________________ is the willingness of people to pay to protect some forms of natural capital to be used by future generations.

Neoclassical, ecological, and environmental economists all believe there has to be a balance between economic growth and environmental preservation.

Use the Figure above to answer the following question(s). -What was the budget for the U.S.military for the year 2006?

Comparing estimated costs and benefits for actions such as implementing a pollution control regulation is called a(n) ____________________.

Ecological economists and ____________________ view economic systems as subsystems of the biosphere.

All of the following are economic goods, except

The Genuine Progress Indicator adds to the GDP the estimated values of benefits not included in market transactions and subtracts the harmful environmental and social costs.

Making the shift to more sustainable economies will require governments, schools, and industries to do all of the following except

Use the Figure above to answer the following question(s). -What percentage of the U.S.military budget is the Total Earth Restoration Budget?

Markets can fail if they do not value the beneficial effects provided by the earth's natural capital and the harmful effects of some types of economic activity.

____________________ is the inclusion of the harmful environmental and health effects of producing economic goods and services in the market prices.

Neoclassical economists beliefs include all of the following except

The wealth gap between the rich and poor has gotten smaller in the last 25 years.

Which of the following is not an external cost of driving a domestic car?

The measurement of the annual economic value of all goods and services within a country is called the

A more sustainable economy is a low-throughput economy.

The repayment rate at the Grameen Bank on microloans is about 45─50%.

Full-cost pricing would discourage producers from inventing more resource-efficient methods of production, thereby cutting production costs.

Figure 23-3 is a graph in which demand and supply intersect. The point of intersection is called ...