1

Which of the following situations has revealed the level of influence that investors have in defining public company behavior? 

•  

Investor vigilance regarding compensation for CEOs

•  

The US not signing the Kyoto Protocol

•  

Increasing awareness of the holistic connection between social sustainability, investment returns and climate change

•  

Investors becoming increasingly aware of the immediacy related to climate change mitigation activities

Sustainable Returns--Investor Impact

2

Which of the following statements best describes the minimum wage?

•  

It is a price floor that decreases producer surplus as compared to the free market equilibrium price and output.

•  

It is a price ceiling that decreases consumer surplus as compared to the free market equilibrium price and output.

•  

It is a price floor that decreases consumer surplus as compared to the free market equilibrium price and output.

•  

It is a price ceiling that decreases producer surplus as compared to the free market equilibrium price and output.

Welfare Analysis

3

Which one of the answers listed is NOT a reason why businesses have been slow to adopt sustainable practices in regard to unemployment?

•  

Sustainable business practices mean larger profits in the long run.

•  

Employment levels follow the business cycle.

•  

Businesses might lay off people in order to meet profitability in a given quarter.

•  

Sustainable business practices often seem counterintuitive.

Assessing Costs of Unemployment--Labor Economics

4

Which of the following statements is NOT true regarding process mapping?

•  

It is an established procedure, developed in the 1930s.

•  

It is used to document processes.

•  

It is a pictorial representation of a process.

•  

Symbols are used to guide the process map.

Process Mapping--Efficiency

5

An estimate of the money and paperwork spent complying with environmental regulations could be compared to the advantages of cleaning up pollution.

This method of determining the value of the environment is known as __________.

•  

healthcare costs

•  

contingent valuation

•  

cost-benefit analysis

•  

hedonic pricing

Assessing Costs of Waste and Pollution--Environmental Economics

6

Which of the following is a result of anthropomorphic climate change?

•  

Damage caused by weather-related disasters has increased.

•  

Insurance is more readily available to consumers.

•  

Emissions gasses have decreased.

•  

Insurance claims have been turned over to government committees.

Assessing Costs of Anthropomorphic Climate Change--Regulatory Intervention

7

The "tragedy of the commons" occurs with goods that are __________.

•  

rival and non-excludable

•  

non-rival and non-excludable

•  

non-rival and excludable

•  

rival and excludable

Public Goods, Private Goods, and the “Tragedy of the Commons”

8

In a pure market economy, public goods ___________.

•  

are provided by the government

•  

are over-provided, because the government is not involved in the economy

•  

are sold at a higher price than private goods

•  

tend to be under-provided

Comparative Economic Systems

9

All of the following are reasons why companies are slow to adopt sustainable practices that are better for the environment EXCEPT__________.

•  

it is difficult to get an accurate cost on the impact of climate change

•  

the universal adoption of the Kyoto Protocol

•  

US investors are less concerned about the environment and climate change than those in Europe

•  

CEO compensation is tied to stock performance

Sustainable Returns--Investor Impact

10

When do producers benefit from an inelastic supply?

•  

When a subsidy is provided

•  

When input costs increase

•  

When quotas are placed on goods

•  

When a tax is imposed

Taxation and Subsidy

11

Determine which example represents a coincidence indicator.

•  

The S & P 500

•  

Unemployment rate

•  

Consumer Confidence Index

•  

Building permits

Coincident Indicators

12

A(n) __________ good is one that can be consumed by one person, and still continue to be consumed by other people.

•  

exclusive

•  

rivalrous

•  

non-rivalrous

•  

non-exclusive

Public Goods, Private Goods, and the “Tragedy of the Commons”

13

Which of the following is an example of moral hazard?

•  

A congresswoman voting for additional fracking rights to bring more money to her local district

•  

The monopoly granted by the government to a power company

•  

Secondhand smoke costs that result in higher health insurance premiums

•  

Continuance of unemployment benefits that act as a disincentive for people to find jobs

Details on Regulatory Intervention and Market Failure

14

Which potential shortcoming below matches the contingent valuation method?

•  

It relies on survey-based information that is subject to biases.

•  

It assumes ceteris paribus to evaluate observed pricing as a means to attribute costs to externalities.

•  

It might not consider the heterogeneity of the population.

•  

It is limited by assessed inputs and might not consider wider economic impacts.

Assessing Costs of Waste and Pollution--Environmental Economics

15

Which of the following best describes externalities?

•  

Third party costs or benefits that skew the correct market equilibrium

•  

The result of information failure and hamper cost-benefit analysis

•  

The result of politicians acting as utility maximizers

•  

An example of a moral hazard

Details on Regulatory Intervention and Market Failure

16

Patricia decides whether or not she can afford to travel to Africa to meet with vendors in person.

Which of the following shapes in a process map would this scenario correspond with?

•  

Oval

•  

Diamond

•  

Rectangle

•  

Circle

Process Mapping--Efficiency

17

 A club good, such as a movie theater, is __________.

•  

excludable and non-rivalrous

•  

excludable and rivalrous

•  

non-excludable and non-rivalrous

•  

non-excludable and rivalrous

Public Goods, Private Goods, and the “Tragedy of the Commons”

18

Sarah is a great teacher; however, she struggles with the technology used by potential students and school districts, and thus is not able to find work. 

Sarah's type of unemployment is considered __________.

•  

cyclical

•  

structural

•  

frictional

•  

seasonal

Assessing Costs of Unemployment--Labor Economics

19

The price at which the consumer purchases the taxed good increases by less than the amount of the tax.

Who of the following bears more of the burden of this tax, assuming that demand is more elastic than supply?

•  

Producers

•  

Both consumers and producers would equally share this tax burden

•  

Consumers

•  

Based on the given information, this is unclear

Taxation and Subsidy

20

Which of the following explains why the S & P 500 is considered a leading economic indicator? 

•  

It predicts consumption behavior in the future. 

•  

Changes in stock prices reflect investors' expectations for the future of the economy and interest rates.

•  

It shows where the economy is with respect to the business cycle. 

•  

It indicates what consumer decision making will look like in the short term. 

Key Leading Indicators

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