Question 1

GDP per capita, is used as a proxy for measuring the standard of living in a nation.

Accepted Answer

A) True 
 B)False

Question 2

Which one of the following is not a limitation of GDP?

Accepted Answer

A)  GDP does not include volunteer work. 
B)  GDP does not value leisure time. 
C)  GDP does not account for loss of non-renewables. 
D)  GDP does not consider capital depreciation 
E)  GDP does not account for loss of natural resources.

Question 3

When was the international standard of national accounts revised for the first time to incorporated a 'satellite system' for organizing data and other information pertaining to natural resources and the environment?

Accepted Answer

A)  Never 
B)  2016 
C)  1916 
D)  1968 
E)  1993

Question 4

"Not all environmental assets have to be 'priced' in order to design environmentally adjusted indicators that are of considerable value to decision makers". How prevalent is
 this view?

Accepted Answer

A)  All economists agree with the statement. 
B)  No economist agrees with the statement. 
C)  Some economists agree with this statement. 
D)  Only Neo-Malthusians agree with this statement. 
E)  Only Neo-Malthusians disagree with this statement.

Question 5

Which one of the following measures is obtained by adjusting Net Domestic Product?

Accepted Answer

A)  GDP 
B)  the Index of Sustainable Economic Welfare (ISEW) 
C)  the Genuine Net Savings (GS) 
D)  Gini Coefficient 
E)  environmentally adjusted net domestic product (EDP)

Exam 13: The Economics of Sustainability

GDP per capita, is used as a proxy for measuring the standard of living in a nation.

Which one of the following is not a limitation of GDP?

When was the international standard of national accounts revised for the first time to incorporated a 'satellite system' for organizing data and other information pertaining to natural resources and the environment?

"Not all environmental assets have to be 'priced' in order to design environmentally adjusted indicators that are of considerable value to decision makers". How prevalent is this view?

Which one of the following measures is obtained by adjusting Net Domestic Product?