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When a regulatory decision is made based on a cost-benefit analysis the goal is __________________.

any benefits are greater than the cost

If a cost-benefit analysis is carried out to determine a regulatory exposure limit for humans carcinogen, then the regulated limit would result in _____________.

an acceptable number of cancers allowed as determined by the analysis

One necessity for proper cost-benefit analysis is ____________.

a proper assessment of future benefits

Adam Smith's classical economics of self interest also included that _________.

that the poor should not be neglected

Wetlands provide a multitude of ecological, economic, and social benefits. They provide habitat for many organisms and are nurseries for many saltwater and freshwater fishes and shellfish. Wetlands also hold and slowly release floodwater and snow melt, recharge groundwater, act as cleansing filters, recycle nutrients, and provide recreation. As of 2000, the contiguous United States was estimated to have about 105 million acres of wetlands remaining. Over the past 60 years, it has lost over 16 million acres of wetlands, and the loss continues at about 58,000 acres annually. Nearly one-third of the loss is due to urban development, with the rest being nearly equally divided between rural development, agriculture, and silviculture (predominantly logging). The southeastern United States is experiencing the greatest losses. The Emergency Wetlands Resources Act of 1986 requires the Fish and Wildlife Service to conduct status and trend studies of the nation's wetlands and to report the results to Congress each decade. The overall goal is to have no more net loss of wetlands. In the past 5 years, money for flood control projects in Louisiana has been cut dramatically. During that time, two simulations, one of a category 4 hurricane and one of a category 5 hurricane, indicated catastrophic damage and loss of life along the Gulf Coast. The levees were predicted to break, and massive flooding to occur, in part due to the loss of the sheltering wetlands.

From the scenario above, one conclusion regarding the Gulf Coast damage from the hurricane season of 2005 is that ________.

wetland losses and improper economic perspectives leading to budget cuts were responsible

The principle that "internal costs", which are the costs and benefits borne by the buyer and seller alone, represent the true and full economics of all transactions is a principle of ________.

neoclassical economics

To control pollution, industry has been given limits and been threatened with punishment if these limits are violated. This approach is called ________.

command and control

Rachel Carson's book Silent Spring, published in the 1960s, ________.

focused on chemical pollutants, including industrial chemicals

Environmental damage from industry or land development has traditionally been labeled as ________ by economists.

external costs

Whom did many people in a West Virginia community near Charleston sue because of pollution to their water supplies?

coal companies

Recent research suggests that _____ in 10 Americans have been exposed to drinking water that fails to meet federal health standards.


What federal agency is responsible for enforcing the Clean Water Act?

Environmental Protection Agency

Between 2004 and 2007, what happened to the number of facilities violating the Clean Water Act?

it increased

How many chemicals or contaminants are strictly limited in tap water through the Safe Drinking Water Act?


During which decade was the Clean Water Act first passed?


Which of the following is true?
a.Selenium is a product of mining only.
b.Selenium is a product of various human activities.
c.Selenium is a product of only mining and agriculture.
d.Selenium is a product of agriculture only.

Selenium is a product of various human activities.

Selenium was found to be quite dangerous to wildlife when many ________ were found deformed in California in the early 1980s.


Who is currently supportive of the most stringent limits on selenium in nature?

Fish and Wildlife Service

You work for the federal agency that will ultimately decide what level of selenium is safe in fish tissue. Who do you work for?

Environmental Protection Agency

Which of the following individuals is most likely to study selenium's impacts on fish?

aquatic toxicologist

Which of the following has been cited as a major flaw in Simplot's research?

The studies only included one fish.

Most of the environmental progress made over the past few decades has come about through the _____ approach.


Which of the following is a specific economic policy tool where the government gives money or resources to businesses and individuals?


Which of the following is a potential disadvantage of cap-and-trade programs?

giving industry a license to pollute

The first major era of U.S. environmental policy _______.

addressed public land management and encouraged western expansion

What event is credited with leading to the passage of the Clean Water Act?

the Cuyahoga River catching fire

In which of the following ways did neoclassical economics contribute to environmental problems?

by encouraging society to view the supply of resources as infinite

Ecosystem goods include _______.

items produced by ecosystems that are consumed or used in manufacturing

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