1.Total welfare:
a.Is measured by Gross National (or Domestic) Product.
b.Equals economic welfare plus noneconomic welfare.
c.In the U.S. has continued to track nearly identically with GNP as measured by the Index of Sustainable Economic Welfare.
d.Has nothing to do with the consumption of market goods and services.2.Herman Daly suggests approaching the three goals of Ecological Economics in this order:
a.Ecosystems, Economy, and Human Welfare
b.Efficient Allocation, Just Distribution, and Sustainable Scale
c.Sustainable Scale, Just Distribution, and Efficient Allocation
d.Economic welfare, uneconomic welfare, and the ecosystem.3.A purely competitive market is typically defined by:
a.Many buyers and sellers.
b.Perfect information.
c.A homogeneous product.
d.Answers A and B.
e.All of the above.4.Crop pollination from naturally occurring bee populations is an example of:
a.A negative externality.
b.An ecosystem service.
c.A stock-flow resource.
d.A rival and excludable service.5.The term race to the bottom refers to:
a.The rapid extraction of natural resources caused by economic growth, particularly fossil fuels, metals and other important minerals.
c.A phenomenon in which countries seeking to attract economic activity will deregulate businesses, leading to lower wages, worse working conditions and fewer environmental protections.
d.Competition among the worlds major fossil fuel companies for deepwater drilling technology that would allow for the extraction of offshore oil and gas.
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