In a recession a government ?

A. Is likely to want to decrease demand in the economy
B. Is likely to want to decrease demand in the economy
C. Is likely to want to stabilise demand in the economy
D. Is likely to want to increase supply in the economy

In a recession ?

A. Unemployment is likely to be low
B. Prices are likely to increase
C. Growth is negative
D. Growth is slow

Gross National Product equals ?

A. Net national product adjusted for inflation
B. Gross domestic product adjusted for inflation
C. Gross domestic product plus net property income from abroad
D. Net national product plus net property income from abroad

Many environmental resources are public goods, which are characterized by ?

A. Rivalry and exclusion in consumption
B. Nonrivalry and nonexclusion in consumption
C. Rivalry but nonexclusion in production
D. Nonrivalry but exclusion in usage

The green house effect is the phenomenon by which ?

A. Biological diversity is dominant in agricultural production
B. The globe’s water pollution affects plankton
C. The earth’s atmosphere traps infrared radiation
D. Climatic changes occur naturally in the forest

The Club of Rome Study, The Limits to Growth suggests that as natural resources diminish ?

A. Capital increasingly replaces labor
B. Technological change compensates for capital depletion
C. Costs rise, leaving less capital for future investment
D. Contingent valuation becomes critical

Which of the following country has 25 percent of the world’s estimated oil reserves and the lowest cost production as well as a dominant role in OPEC pricing ?

A. Russia
B. Saudi arabia
C. Iraq
D. Venezuela

Micheal Roemer’s three-sector model shows that growth in the booming export sector I- reduces the price of foreign exchange II- retards other sectors’ growth by reducing incentives to export other commodities III- reduces incentives to replace domestic goods for imports IV- raises factor and input prices for non-booming sectors ?

A. I and iii only
B. Ii and iii only
C. I, ii and iii only
D. I, ii , iii only iv

According to Coase’s theorem when property rights are well defined and legally enforceable and transactions costs are not prohibitive ?

A. Population growth leads to rigid land rights
B. Participants will organize their transactions
C. Violence displacement erosion and poverty are minimized
D. Individuals overuse of the biosphere is curtailed

The Genuine Progress indicator is ?

A. Also known as index of sustainable economic welfare per capita
B. Gdp plus resource depletion and environmental cost
C. Resource depletion and environmental cost divided by gdp per capita
D. Increasing from 1976 to 2000