The benefit estimation method that uses surveys about hypothetical market conditions is
a. the averting expenditure method c. the travel cost approach
b. the contingent valuation method d. the political referendum approach
b. the contingent valuation method
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For a monopsony, the labor supply curve
A) lies above the MCL curve. B) is the same as the MCL curve. C) lies below the MCL curve. D) is the same as the labor demand curve.
If airfares to Europe were to increase, other things equal, an economist would predict that: a. most people will not change their travel and vacation plans
b. more individuals will choose to fly to Europe because now it is a more valuable experience. c. some individuals will substitute toward other travel destinations. d. airlines will make significantly greater profits.
The crowding of women and minorities into a restricted number of occupations:
A. has no impact on the size of the domestic output or its distribution in the long run. B. will increase the size of the domestic output and make its distribution more equal. C. will decrease the size of the domestic output and make its distribution less equal. D. will increase the size of the domestic output but make its distribution less equal.
Answer the following statement(s) true (T) or false (F)
1. Risk is the chance of something bad happening. 2. Risk analysis is an important element of environmental policy development. 3. Risk that is deliberately assumed is considered involuntary risk. 4. Exposure to passive or secondhand smoke is a type of voluntary risk. 5. Both hazard and exposure define environmental risk, but each can independently affect the outcome.