Economics Principles & Practices

Chapter 20: Global Economic Challenges

Self-Check Quizzes

1
According to Thomas Malthus, population grows at a(n) ___________ rate, while food grows at a(n) ___________ rate.
A)algebraic, geometric
B)geometric, constant
C)constant, progressive
D)constant, algebraic
2
If population and food supplies grow at the rates predicted by Thomas Malthus, the masses of the world will be reduced to the condition of ____________.
A)substance
B)extinction
C)subsistence
D)equality
3
The largest category of nonrenewable energy in use today is _________.
A)oil
B)natural gas
C)coal
D)nuclear energy
4
Today, ____________ is our most important renewable energy resource, accounting for half of all renewable energy consumed in the United States.
A)biomass
B)nuclear power
C)solar energy
D)hydroelectric power
5
The 1973 oil embargo _____________.
A)drove the price of oil up, which eventually stimulated additional oil production
B)caused a glut of oil in the same year
C)led to a state of subsistence in the oil-consuming nations
D)discouraged the search for and production of more oil
6
According to economists, pollution occurs because _____________.
A)people and firms have an economic incentive to pollute
B)people and firms are lazy
C)government regulations against pollution are not strong enough
D)population is growing, and pollution is a by-product of economic growth
7
A "pollution permit" issued by the Environmental Protection Agency (EPA) _____________.
A)gives firms a low-cost way to pollute
B)is an ineffective way to control pollution
C)forces firms to either clean up their own pollution or pay for costly permits
D)allows firms to reduce their cost of production by lowering pollution costs
8
The market economy is an evolutionary economy that _____________.
A)discourages activities that generate pollution
B)can now control external events like potential oil slicks
C)benefits everyone equally
D)gradually adjusts to change
9
The capitalism of today is _____________.
A)similar to the laissez-faire capitalism of the past
B)evolutionary in that it has adjusted incrementally to the demands on it
C)similar to the capitalism of the 1930s that had little room for the elderly, ill, or incapacitated
D)very similar to the socialism of the 1930s
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