Final

Question 0

Current reserves

Answer 0

A resource that can be extracted profitably at current prices.

Question 1

Resource taxonomy

Answer 1

Classification system used to distinguish various categories of resource availability.

Question 2

Potential reserves

Answer 2

Resources potentially available. Depends on wtp

Question 3

Resource endowment

Answer 3

represents the occurrence of resources in the earth

Question 4

Choke price

Answer 4

Maximum willingness to pay.

Question 5

The switch point

Answer 5

Transition point to a renewable substitute.

Question 6

Population growth is a significant source of what?

Answer 6

Non sustainability

Question 7

Population growth in U.S.

Answer 7

Going down due to lower birth rates

Question 8

Stationary population

Answer 8

One that is constant and equal to the death rate

Question 9

Replacement rate

Answer 9

Level of fertility that is compatible with a stationary population. U.S. = 2.11

Question 10

If mp is above ap

Answer 10

Ap is rising

Question 11

If mp is below ap

Answer 11

Ap is falling

Question 12

If mp is equal to ap

Answer 12

Ap is equal

Question 13

Induced innovation hypothesis

Answer 13

Increased populations, trigger increased demand for agriculture goods. Land scarcity results I ag innovation and increased sustainability.

Question 14

Stage 1

Answer 14

Right before industrialization, birth rates are stable and a lil higher than death rates.

Question 15

Stage 2

Answer 15

Death rates fall dramatically but birth rates stay the same causing large population growth.

Question 16

Stage 3.

Answer 16

Longer life expectancy and birth rates fall below the declining death rates.

Question 17

Theory of demographic transition.

Answer 17

Reduction in population growth might cause higher standard of living.

Question 18

Congestion externalities

Answer 18

One source of market failure.

Question 19

Subsidized food

Answer 19

Artificially lowers the cost of children.

Question 20

Identified resources

Answer 20

Specific bodies of mineral bearing material who’s location quality and quantity are known from geological evidence supported by engineering measurements

Question 21

Measured resource

Answer 21

Material for which quantity and quality estimates are within a margin of error of less than 20% from geologically well-known sample sites

Question 22

Indicated resources

Answer 22

Material for which quantity and quality have been estimated partly from sample analysis and partly from reasonable geological projections

Question 23

Inferred resources

Answer 23

Material in unexplored extensions of demonstrated resource based on geological projections

Question 24

Undiscovered resources

Answer 24

On specific bodies of mineral bearing material surmised to exist on the basis of broad geological knowledge and theory

Question 25

Hypothetical resources

Answer 25

undiscovered materials reasonably expected to exist in a known mining district under known geological conditions

Question 26

Speculative resources

Answer 26

Undiscovered materials that may occur in either known types of deposits and favorable geological settings were no discoveries have been made or in yet unknown types of deposit that remain to be recognized

Question 27

Microeconomic theory of fertility

Answer 27

Begins at the viewpoint...children are consumer durables... and the demand for them will be downward sloping.

Question 28

Women's income earning potential can be increased through investments in what

Answer 28

Human capital, physical capital