A decision to postpone commercial development of an undisturbed parcel shows an example of what type of economic benefits?
a. Direct use values
b. Indirect use values
c. Existence values
d. Option values
e. Bequest values
Ans: d. Option values
You might also like to view...
A demand schedule shows
A) the quantities that people plan to buy at each different income when all other influences on buying plans remain the same. B) the quantities that people would plan to buy if they could afford them at each different price when all other influences on buying plans remain the same. C) the quantities that people plan to buy at each different price when all other influences on buying plans remain the same. D) the quantities that people plan to buy in all possible circumstances. E) the quantities that people plan to buy at each different price as long as producers are willing to supply that quantity.
In a subgame-perfect equilibrium
A) each player's strategy constitutes a Nash equilibrium at every subgame of the original game. B) the last mover has an advantage over other players. C) the first mover has an advantage over other players. D) each player has the same response as the others at every subgame of the tree.
A winter ice storm has paralyzed the entire east coast, reducing productivity sharply. This supply shock shifts the marginal product of labor curve
A) up and to the right, raising the quantity of labor demanded at any given real wage. B) down and to the left, reducing the quantity of labor demanded at any given real wage. C) up and to the right, reducing the quantity of labor demanded at any given real wage. D) down and to the left, raising the quantity of labor demanded at any given real wage.
To reduce the political influence on the Board of Governors,
A) the president of the United States appoints a new board every four years. B) the reelection campaign for each member is less than one year C) each member is appointed for 7 years, with one term expiring every year. D) each member is appointed for 14 years, with one term expiring every two years.