Question 18 In a perfectly free economy, all buyers and sellers are what? A. utility users B. utility creators C. utility maximizers D. utility diminishers Question 19 Which of the following is the term for a situation in which manufacturers sell to firms only if the firms charge a certain price for the goods?   A. retail price maintenance agreements B. bid rigging C. exclusive dealing arrangements D. price discrimination Question 20 An oil company is expanding, but no new oil fields are available. They therefore must resort to the expensive and less-efficient practice of extracting petroleum from oil sands. This is known as __________.   A. the principle of increasing marginal cost B. the principle of gross marginal utility C. the principle of diminishing marginal utility D. the principle of increasing marginal utility Question 21 The undesirable and unintended contamination of the environment because of the manufacture or use of commodities is commonly referred to as __________. A. resource depletion B. pollution C. degradation D. contamination Question 22 Why should we protect the environment, according to ecological ethics? A. for our future generations to enjoy B. to prevent the depletion of our resources C. for the sake of the environment itself D. for the preservation of our species Question 23 Acid rain is caused by __________.   A. global warming B. fossil fuels C. airborne toxins D. none of the above Question 24 When is the hole in the stratospheric ozone layer over the Antarctic expected to recover? A. between 2060 and 2075 B. between 2016 and 2020 C. between 2100 and 2200 D. never Question 25 Which of the following can occur as a result of global warming? A. famine B. floods C. drought D. all of the above Question 26 What is Blackstone’s theory of environmental rights? A. All organisms have a right to life, and we have a duty to protect their environment. B. Humans have a duty to ensure a livable environment because we each have a right to a livable environment. C. Environmental protection is necessary for the continuation of the species, and all other concerns are secondary. D. The only way to protect the environment is through political change. Question 27 Which approach to pollution says that we should get rid of social systems of hierarchy and domination? A. ecofeminism B. ethic of care C. precautionary principle D. social ecology Question 28 What is the term for the view that protecting the environment is important because it harms human beings? A. ecocentrism B. anthropocentrism C. exocentrism D. biocentrism Question 29 What is the term for the sum total internal and external costs of an economic activity? A. private cost B. social cost C. economic cost D. associated cost Question 30 If you cut down a tree, plant a tree” is an example of what? A. precautionary principle B. conservation based on justice to future generations C. ecocentrism D. anthropocentrism Question 31 Which species was in danger due to drilling of natural gas wells on the Pinedale Mesa?   A. mule deer B. bighorn sheep C. sage grouse D. all of the above Question 32 Which of the following is not a greenhouse gas?   A. carbon dioxide B. methane C. nitrogen D. nitrous oxide Question 33 Which of the following is not an argument against attributing rights to future generations? A. Future generations will have better technology to solve their problems. B. We do not know what interests future generations will have, or what rights they have. C. Future generations may not exist. D. If future generations have rights, everyone in the present must always sacrifice for them. Question 34 Ozone depletion is a serious threat to our survival; which gases are extremely harmful to the ozone layer? A. carbon dioxide B. nitrogen C. chlorofluorocarbons D. hydrocarbons Question 35 According to your textbook, what remedy for covering the external cost of pollution is the most fair and just? A. Make everyone pay a small amount to cover the costs. B. Internalize the costs of pollution. C. Shift production to a less populated area. D. Reduce production so that the external costs are lessened.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Question 18 In a perfectly free economy, all buyers and sellers are what? A. utility users B. utility creators C. utility maximizers D. utility diminishers

Question 19 Which of the following is the term for a situation in which manufacturers sell to firms only if the firms charge a certain price for the goods?   A. retail price maintenance agreements B. bid rigging C. exclusive dealing arrangements D. price discrimination

Question 20 An oil company is expanding, but no new oil fields are available. They therefore must resort to the expensive and less-efficient practice of extracting petroleum from oil sands. This is known as __________.   A. the principle of increasing marginal cost B. the principle of gross marginal utility C. the principle of diminishing marginal utility D. the principle of increasing marginal utility

Question 21 The undesirable and unintended contamination of the environment because of the manufacture or use of commodities is commonly referred to as __________. A. resource depletion B. pollution C. degradation D. contamination

Question 22 Why should we protect the environment, according to ecological ethics? A. for our future generations to enjoy B. to prevent the depletion of our resources C. for the sake of the environment itself D. for the preservation of our species

Question 23 Acid rain is caused by __________.   A. global warming B. fossil fuels C. airborne toxins D. none of the above

Question 24 When is the hole in the stratospheric ozone layer over the Antarctic expected to recover? A. between 2060 and 2075 B. between 2016 and 2020 C. between 2100 and 2200 D. never

Question 25 Which of the following can occur as a result of global warming? A. famine B. floods C. drought D. all of the above

Question 26 What is Blackstone’s theory of environmental rights? A. All organisms have a right to life, and we have a duty to protect their environment. B. Humans have a duty to ensure a livable environment because we each have a right to a livable environment. C. Environmental protection is necessary for the continuation of the species, and all other concerns are secondary. D. The only way to protect the environment is through political change.

Question 27 Which approach to pollution says that we should get rid of social systems of hierarchy and domination? A. ecofeminism B. ethic of care C. precautionary principle D. social ecology

Question 28 What is the term for the view that protecting the environment is important because it harms human beings? A. ecocentrism B. anthropocentrism C. exocentrism D. biocentrism

Question 29 What is the term for the sum total internal and external costs of an economic activity? A. private cost B. social cost C. economic cost D. associated cost

Question 30 If you cut down a tree, plant a tree” is an example of what? A. precautionary principle B. conservation based on justice to future generations C. ecocentrism D. anthropocentrism

Question 31 Which species was in danger due to drilling of natural gas wells on the Pinedale Mesa?   A. mule deer B. bighorn sheep C. sage grouse D. all of the above

Question 32 Which of the following is not a greenhouse gas?   A. carbon dioxide B. methane C. nitrogen D. nitrous oxide

Question 33 Which of the following is not an argument against attributing rights to future generations? A. Future generations will have better technology to solve their problems. B. We do not know what interests future generations will have, or what rights they have. C. Future generations may not exist. D. If future generations have rights, everyone in the present must always sacrifice for them.

Question 34 Ozone depletion is a serious threat to our survival; which gases are extremely harmful to the ozone layer? A. carbon dioxide B. nitrogen C. chlorofluorocarbons D. hydrocarbons

Question 35 According to your textbook, what remedy for covering the external cost of pollution is the most fair and just? A. Make everyone pay a small amount to cover the costs. B. Internalize the costs of pollution. C. Shift production to a less populated area. D. Reduce production so that the external costs are lessened.

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