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Practice Quiz
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1
As described in "Counter-Terrorism: The Private Cost of More Security," productivity shock can occur when:
A)there is a substitution of "protective" for "productive" capital, leading companies to spend more on security measures.
B)there is a substitution of "productive" for "protective" capital leading companies to spend more on tools of production.
C)terrorism fears shock workers, resulting in less productivity.
D)the stock market declines due to terrorism warnings.
2
As cited in "Counter-Terrorism: The Private Cost of More Security," some of the market mechanisms used to alleviate the "free-rider" problem are:
A)voluntary standards encouraged by tax cuts.
B)voluntary standards encouraged by tax increases.
C)pollution and emission credits as well as "smog markets."
D)restrictive federal regulations.
3
As illustrated in "Counter-Terrorism: The Private Cost of More Security," productivity increases as counter-terrorism protective measures are implemented by private industry.
A)True
B)False
4
As explained in "After $75,000, Money Can't Buy Day-to-Day Happiness," people who:
A)made more than $75,000 were more apt to say they were satisfied overall with their life.
B)dipped under $75,000 annual income lost their motivation to work.
C)had not quite reached $75,000 annual income were generally depressed.
D)reached $75,000 almost always pushed to make more.
5
As pointed out in "After $75,000, Money Can't Buy Day-to-Day Happiness," the emotional impact of negative life events, such as divorce, is:
A)minimized by high income.
B)influenced almost entirely by personal relationships, not money.
C)exacerbated by poverty.
D)greater on men than women.
6
As concluded in "After $75,000, Money Can't Buy Day-to-Day Happiness," if you are unhappy now, the fact that overall your life may be going well does not make up for that.
A)True
B)False
7
As explained in "More, Bigger, Faster," because of the "new-want machine" that the United States has developed over the last hundred years, the long-run prospects for its economy are:
A)bleak.
B)ambiguous.
C)excellent.
D)difficult to predict.
8
According to "More, Bigger, Faster," current discussions of productivity tend not to focus on the creation of new markets, but rather on:
A)increasing efficiency in existing markets.
B)reducing costs.
C)developing new technologies.
D)creative destruction of old markets.
9
As argued in "More, Bigger, Faster," apart from a few specific industries, far more jobs are lost to imports and outsourcing than to efficiency improvements in industries where demand has not changed.
A)True
B)False
10
As detailed in "College Tuition High, but Cost of Not Going Is Higher," college graduates have all of the following advantages over high-school graduates except:
A)roughly half the unemployment rate of high-school graduates.
B)earnings (in 2008) almost 100 percent higher than high-school graduates.
C)lack of debt.
D)greater job satisfaction.
11
As given in "America's Greatest Health Threat: Obesity," the status of obesity is that it is:
A)starting to trend downward.
B)still a huge problem but stable right now.
C)more of a problem in the Far West than in the South.
D)an absolute crisis condition.
12
As defined in "The Real Price of Gas," the most comprehensive term for describing the expenses that are not reflected in the retail price of gasoline would be:
A)tariffs.
B)external costs.
C)tax subsidies.
D)program subsidies.
13
As noted in "The Real Price of Gas," program subsidies that support U.S. petroleum producers include all of the following except:
A)spending on the transportation infrastructure.
B)funding research and development.
C)safeguarding the world's oil-rich regions by the Department of Defense.
D)support from the U.S. Army Corps of Engineers.
14
As cited in "The Real Price of Gas," the federal government has resisted providing the oil industry with tax breaks.
A)True
B)False
15
As pointed out in "The Coast Is Not Clear," Morgan Stanley reported that the BP oil spill:
A)has had economic consequences both at the regional and national level.
B)will not pose any economic danger at the regional level.
C)has been a significant shock to the regional economy.
D)has been a significant shock to the national economy.
16
As noted in "The Coast Is Not Clear," a greater ecological threat than the Gulf oil spill is the:
A)amount of bacteria in the Gulf waters.
B)fact that the Gulf is a veritable drainage ditch for fertilizer from Midwestern farms.
C)high volume of shipping traffic in the Gulf.
D)over-fishing in the Gulf waters.
17
As maintained in "The Coast Is Not Clear," BP has refused to provide funding for environmental studies in the Gulf.
A)True
B)False
18
As reported in "America's Green Innovation Problem," the world's largest non-government solar-energy research and development facility is:
A)located in Texas.
B)part of an American company but located in China.
C)part of a French company but located in China.
D)owned by a Chinese corporation.
19
As noted in "America's Green Innovation Problem," many companies have positioned their R&D sectors in China because:
A)China has implemented policies to attract foreign, high-value technology-based operations within its borders.
B)a great deal of manufacturing is done in China already.
C)most of them already have their headquarters based in Asian countries such as Singapore.
D)China is one of the world's leading consumers of technology.
20
As cited in "America's Green Innovation Problem," although the research sector has been growing in China, the United States leads the world in innovation-based competitiveness.
A)True
B)False
21
As maintained in "The Long Term Economic Effects of the BP Oil Spill," the disaster has already cost:
A)$12 million overall.
B)$25 million for cleanup efforts.
C)$1.6 billion overall.
D)$3.4 billion in grant money given to Gulf Coast states.
22
As stated in "The Long Term Economic Effects of the BP Oil Spill," the largest oil spill in the world so far is the:
A)BP oil spill.
B)Greenpoint oil spill of 1978.
C)Exxon Valdez disaster of 1989.
D)Gulf War oil spill of 1991.
23
As presented in "The Long Term Economic Effects of the BP Oil Spill," the economic consequences of the BP oil spill may turn out to be the most severe.
A)True
B)False
24
As reported in "Outsized Offshore Outsourcing," the occupation ranked highest in offshorability is:
A)sales manager.
B)bill and account collector.
C)machinist.
D)computer programmer.
25
As noted in "Outsized Offshore Outsourcing," Alan Blinder, former Clinton economic advisor, contends that:
A)outsourcing will be impoverishing in the long run.
B)almost all manufacturing jobs are offshorable.
C)transition will be negligible in the outsourcing of American jobs.
D)only low-skill jobs can be profitably outsourced.
26
As stated in "Outsized Offshore Outsourcing," American wages have not increased in proportion to increases in worker productivity.
A)True
B)False
27
According to "The New Suburban Poverty," one of the main factors driving up rates of suburban poverty is:
A)the concentration of unskilled labor.
B)availability of low-income housing.
C)decentralization of low-wage employment.
D)expanding availability of mass transit.
28
As stated in "The New Suburban Poverty," the purpose of the anti-soliciting laws introduced in some counties is to drive away:
A)immigrants.
B)telemarketers.
C)gang activity.
D)day laborers.
29
As reported in "The New Suburban Poverty," suburban areas tend to be lacking in social service agencies to help the poor.
A)True
B)False
30
A Brookings Institution report cited in "Broke in the Burbs," showed that between 2000 and 2008 poverty in the suburbs of the country's largest metro areas:
A)remained troublesome but stable.
B)increased about five times faster than in the cities.
C)increased much more slowly than in the cities.
D)fell by about 10 percent.
31
As cited in "Gender Pay and Leadership Gaps Are Real--and Impact Our Economy," one of the chief complaints at America's first women's summit in Seneca Falls, New York, regarded:
A)affordable housing for all.
B)women's right to choose.
C)equal pay for equal work.
D)maternity leave.
32
As noted in "Gender Pay and Leadership Gaps Are Real--and Impact Our Economy," while women comprise nearly 50 percent of Fortune 500 employees, they comprise:
A)zero percent of those companies' Executive Officers.
B)only 40.4 percent of business school graduates.
C)over 60 percent of those companies' Executive Officers.
D)only 13.5 percent of those companies' Executive Officers.
33
As maintained in "Gender Pay and Leadership Gaps Are Real--and Impact Our Economy," most of the gender pay gap can be explained by whether or not a woman has children.
A)True
B)False
34
As noted in "Are Young Women Earning More Than Their Boyfriends?", the way to judge workplace-earnings fairness is to look at whether women and men:
A)earn comparable salaries overall.
B)of a similar age earn comparable salaries.
C)who are equally skilled in comparable jobs earn similar salaries.
D)are equally represented in high-salaried jobs.
35
As brought out in "Are Young Women Earning More Than Their Boyfriends?", the gender pay gap for college-educated professionals begins to show:
A)right after graduation at their first jobs.
B)during the early career years.
C)when a woman has children.
D)during mid-career.
36
As given in "Are Young Women Earning More Than Their Boyfriends?", a USA Today article reported that young, single, childless women earn more than their male counterparts.
A)True
B)False
37
As discussed in "Finance: Getting Women from Micro to Mezzo," microcredit loans are small loans given to:
A)those without credit.
B)Third World women to maintain a business.
C)American women to encourage female entrepreneurship.
D)Third World women to pay for medical expenses.
38
As explained in "Finance: Getting Women from Micro to Mezzo," communities are pulled out of poverty when:
A)women secure microloans.
B)international relief efforts come to their aid.
C)men are in control of money.
D)women are in control of money.
39
As stated in "Finance: Getting Women from Micro to Mezzo," most of the 1 billion people worldwide who are living on $1 dollar a day or less are men.
A)True
B)False
40
According to "Outsourcing Jobs: The Myths and Realities," the debate over outsourcing is misplaced, because the issue is not globalization, but rather:
A)massive trade deficits.
B)the way nations allocate the benefits of economic integration.
C)the pace of innovation and technological change.
D)competitiveness.
41
As explained in "Outsourcing Jobs: The Myths and Realities," over the past 10 years, job growth in the United States:
A)was fastest among low-wage jobs.
B)has remained steady.
C)was fastest among high-wage jobs.
D)had fallen every year until 2005.
42
As asserted in "Outsourcing Jobs: The Myths and Realities," the fact that what is good for the economy as a whole may not be good for each individual does not weaken the case for free trade.
A)True
B)False
43
As maintained in "Misplaced Incentives Were the Rot at the Core of the Financial Crisis," entities that collected fees from mortgage-backed-securities (MBSs) operations included all of the following except:
A)house buyers.
B)investment banks.
C)mortgage originators.
D)ratings agencies.
44
As explained in "The "'Inflation' in Inflation Targeting," inflation targeting emphasizes:
A)deflationary targets.
B)a fixed exchange rate.
C)money growth.
D)price stability.
45
As given in "The "'Inflation' in Inflation Targeting," it is most useful to think of inflation as:
A)the worst setback to the U.S. economy.
B)not desirable, but not particularly harmful to the U.S. economy.
C)a generalized upward movement of prices.
D)the change in the standard of living as indicated by the increased cost of a particular basket of goods and services.
46
As indicated in "The "'Inflation' in Inflation Targeting," it is necessary for monetary policy to be directed at stabilizing changes in the cost of living.
A)True
B)False
47
As reported in "Fixing the Tax System," reasons for the projected exponential growth in the number of taxpayers facing the Alternative Minimum Tax (AMT) include:
A)decreases in the size of families.
B)increased buying power of the dollar.
C)the AMT is not indexed for inflation.
D)permanent cuts in AMT rates.
48
The author of "Fixing the Tax System" contends that a national retail sales tax would:
A)be very difficult to evade.
B)reduce tax burdens minimally.
C)increase charitable contributions.
D)require substantial markups at the cash register.
49
As pointed out in "Fixing the Tax System," the flat tax as a stand-alone system has never been tried anywhere in the world.
A)True
B)False
50
As outlined in "The Changing Landscape of Community Banking," the U.S. banking industry is unique among the world's industrialized nations because it:
A)consists of four large nationalized banks.
B)charges little or no interest to consumers.
C)consists of thousands of small banks.
D)is not backed by a national deposit-insurance system.
51
As indicated in "The Changing Landscape of Community Banking," although on the decline, community banks still:
A)represent 92 percent of all charters.
B)remain the main banking service to rural populations.
C)remain the main banking service to urban populations.
D)hold the majority of banking industry assets in the United States.
52
As detailed in "The Changing Landscape of Community Banking," of the 276 bank failures in 2007, 80 percent were national banks.
A)True
B)False
53
As explained in "How Does Monetary Policy Affect the U.S. Economy?" in order to influence the U.S. economy, the Federal Reserve Board implements its monetary policy via raising or lowering:
A)taxes.
B)the real interest rate.
C)the nominal interest rate.
D)the marginal interest rate.
54
As presented in "How Does Monetary Policy Affect the U.S. Economy?" if the interest rate on a loan is six percent and the inflation rate is two percent, then the real interest rate for this loan is:
A)four percent.
B)eight percent.
C)six percent.
D)two percent.
55
As described in "How Does Monetary Policy Affect the U.S. Economy?" monetary policy directly controls U.S. employment rates.
A)True
B)False
56
As suggested in "Inflation: The Great New Divide," the divergence between the world's inflationary and near-deflationary zones can be resolved by:
A)emerging markets immediately raising interest rates sharply and cutting government spending drastically.
B)the United States, Japan, and Western Europe aggressively insisting on leadership in the global economy.
C)emerging markets slowing down without crashing.
D)revisiting the old idea of widespread tariffs.
57
According to "A Quiet Revolution in Money," the federal government first started printing paper money:
A)during the period of the Articles of Confederation.
B)during the Civil War.
C)solely for the purpose of paying taxes.
D)before the Louisiana Purchase.
58
In discussing electronic money, the author of "A Quiet Revolution in Money" points out that:
A)processing electronic payments is cheaper than paper ones.
B)its use tends to reduce wasteful spending.
C)it is not as convenient as paper money.
D)supermarkets prefer it to paper transactions.
59
As noted in "A Quiet Revolution in Money," the majority of the money printed is to replace worn currency.
A)True
B)False
60
As maintained in "Interest Rates: The Zero Percent Solution," in the modern age the central banking system has sought to avoid:
A)hypoinflation.
B)hyperinflation.
C)deflation.
D)stagflation.
61
As mentioned in "Interest Rates: The Zero Percent Solution," the most important consequence to savers when interest rates are very low is that:
A)the market is most likely to crash, taking nest eggs along with it.
B)savers are punished for saving during a time with such low returns.
C)their assets increase when inflation outpaces interest rates.
D)their assets decrease when inflation outpaces interest rates.
62
As disclosed in "Interest Rates: The Zero Percent Solution," many countries in Europe are worried that China will successfully rein in growth, leading to a serious negative impact for the East.
A)True
B)False
63
In the fictional retrospective of the author of "Countdown to a Meltdown," the event that led to the Democratic victory in the election of 2008 was the:
A)collapse of the dollar in Asian market.
B)death of Fidel Castro.
C)defeat of U.S. forces in Iraq.
D)rise to power of Hugo Chavez.
64
According to "Countdown to a Meltdown," every Republican president has left office with the:
A)dollar higher.
B)American trade position stronger.
C)U.S. manufacturing work force smaller.
D)federal budget deficit lower.
65
As noted in "Countdown to a Meltdown," in 2005 the Congressional Budget Office contended that a large majority of the upcoming year's deficit resulted from the Bush Administration tax cuts.
A)True
B)False
66
According to Joseph Stiglitz Norton, as cited in "Greed Is Not Good," the main economic failure of the Clinton administration was that it:
A)did not put the right incentives into place to prevent a stock market bubble.
B)raised interest rates far too high for the market to bear.
C)did not encourage small business growth.
D)did not enact enough deregulation.
67
As part of banking deregulation, as detailed in "Greed Is Not Good," the repeal of 1933's Glass-Steagall Act served to:
A)lower ATM fees.
B)eliminate interest payments on savings accounts.
C)enable corrupt unions between banks and companies.
D)encourage shareholders to form unions with depositors.
68
As related in "Greed Is Not Good," during the 1990s the pay disparity decreased between American CEOs and the average American worker.
A)True
B)False
69
As mentioned in "CRE: The Cracked Glass Slipper?", delinquency rates are rising for:
A)residential housing loans.
B)signature loans.
C)all types of CRE loans.
D)construction CRE loans but not for land-development CRE loans.
70
As presented in "CRE: The Cracked Glass Slipper?", the Ninth District's large banks fortunately:
A)hold less than $10 billion in assets.
B)have a great deal of their capital in CRE loans.
C)have comparatively low CRE exposure.
D)have no CRE exposure.
71
As noted in "CRE: The Cracked Glass Slipper?", nationwide many banks have portfolios that exceed regulator guidelines for CRE concentration.
A)True
B)False
72
As noted in "Why Are Taxes So Complicated and What Can We Do About It?" the principal reason tax law is so complicated is that:
A)its goals are impossible to attain.
B)tax preparers make more money that way.
C)politicians are corrupt.
D)it has many complicated and sometimes inconsistent goals.
73
According to "What Should Central Banks Do?" the overriding, long-term goal of monetary policy should be:
A)spurts of economic expansion.
B)communication.
C)price stability.
D)high economic output.
74
As stated in "What Should Central Banks Do?" it may be more difficult for the monetary authorities to pursue price stability if:
A)there are budget surpluses.
B)fiscal policy is irresponsible.
C)politics become part of the process.
D)neighboring countries have mature economies.
75
As concluded in "What Should Central Banks Do?" the Federal Reserve requires an institutional restructuring in order to keep pace with the world economy.
A)True
B)False
76
As pointed out in "Toward a Cashless Society," government officials:
A)would use electronic currency to establish totalitarian regimes.
B)are engaging in illicit electronic surveillance already.
C)do not invade our privacy because the law prevents it.
D)are in favor of adopting electronic currency.
77
As described in "Toward a Cashless Society," crimes that are conducted almost entirely with cash include:
A)identity theft.
B)fraud.
C)hacking into private computers.
D)tax evasion.
78
As proposed in "Toward a Cashless Society," electronic currency would replace credit cards and bank-checking systems.
A)True
B)False
79
As noted in "Myths of Globalization," a current illusion is that globalization will:
A)change humankind for the better.
B)benefit Asia more than Europe.
C)primarily enrich highly industrialized countries.
D)end racism.
80
As claimed in "Myths of Globalization," the essence of globalization:
A)was present in the aftermath of World War II.
B)became a trademark of President Teddy Roosevelt's approach to the world's economy.
C)has its roots in England's Industrial Revolution.
D)is at least 2,500 years old.
81
The author of "Myths of Globalization" points out that historical eras of relative peace came about because competing cultures agreed to cooperate.
A)True
B)False
82
As presented in "The Effect of Immigrants on U.S. Employment and Productivity," statistical analysis shows that the work of immigrants:
A)decreases the economy's productive capacity.
B)discourages investment and specialization.
C)boosts income per worker.
D)diminishes the employment opportunities of U.S.-born workers.
83
As addressed in "The Effect of Immigrants on U.S. Employment and Productivity," proximity to the Mexican border is associated with high net immigration because:
A)there are more jobs in border states.
B)border states tend to get more immigrants due to geographical and historical factors.
C)those states are more open to immigrant labor.
D)industry in border states pays more than in other regions.
84
As related "The Effect of Immigrants on U.S. Employment and Productivity," the U.S. economy absorbs immigrants by displacing U.S.-born workers.
A)True
B)False
85
According to "Consumer Trends in Three Different 'Worlds'," the fastest growing type of household in the United States is:
A)unmarried couples.
B)traditional families.
C)multigenerational families.
D)single persons.
86
As reported in "Consumer Trends in Three Different 'Worlds'," countries classified as W-1 nations include:
A)South Korea.
B)Bangladesh.
C)China.
D)India.
87
As noted in "Consumer Trends in Three Different 'Worlds'," the world's standard of living is rising.
A)True
B)False
88
As discussed in "I'm Not a Goldbug," investor Thomas Kaplan would like to start gold mining operations in Transylvania but:
A)it is not certain there is any gold to be found there.
B)the type of gold there is not the high-quality gold traded on the market.
C)residents oppose the mine startup on environmental grounds.
D)he has not found investors to participate in this endeavor.
89
As detailed in "I'm Not a Goldbug," the publisher Marc Faber has long argued that:
A)the market for gold is a bull market.
B)the market for gold is on the decline.
C)gold is a foolish investment.
D)gold represents vital protection against the monetary foolishness of central governments.
90
As profiled in "I'm Not a Goldbug," the group Alburnus Maior advocates for Gabriel Resources' plans to open a mine in Rosia Montana, Transylvania.
A)True
B)False
91
As discussed in "Eliminating Child Labor," the practice of employing child labor:
A)remains prevalent all over the world.
B)can be eliminated everywhere by the more careful monitoring of exports.
C)was never common in the United States.
D)cannot be ended by applying one solution to various nations around the world.
92
According to "Eliminating Child Labor," the state that first placed restrictions on the employment of children was:
A)Wisconsin.
B)Virginia.
C)Massachusetts.
D)Delaware.
93
As pointed out in "Eliminating Child Labor," the vast majority of children who work do so in agriculture.
A)True
B)False
94
As presented in "Is the Recent Productivity Boom Over?", one reason why there has not been much downward movement in the unemployment rate in this recession is because:
A)there have been great gains in GDP.
B)the unemployment rate was low to begin with.
C)there has been a great deal of productivity growth.
D)the unemployment rate was high to begin with.
95
As identified in "Is the Recent Productivity Boom Over?", fast productivity growth during a recession is associated with:
A)slow productivity growth during the subsequent recovery.
B)fast productivity growth during the subsequent recovery.
C)low unemployment.
D)low GDP growth.
96
As noted in "Is the Recent Productivity Boom Over?", forecasters predict that productivity growth will slow significantly over the next year, leading to increased unemployment.
A)True
B)False
97
The pure irrational exuberance bubble, as described in "Not All Bubbles Present a Risk to the Economy," does not present as much danger as the credit boom bubble because:
A)the amount of money at risk is so much lower.
B)it does not involve the cycle of leveraging against higher asset values.
C)government supervision is much more intensive.
D)it seems old-fashioned to sophisticated investors.
98
A credit boom bubble, as given in "Not All Bubbles Present a Risk to the Economy," begins with a credit boom that has a positive feedback loop with all of the following features except:
A)increasing leverage.
B)further easing of credit standards.
C)then even high leverage.
D)exit of original investors.
99
As asserted in "Not All Bubbles Present a Risk to the Economy," the Federal Reserve should exit from its zero-interest-rate policy if another round of asset-price bubbles begins.
A)True
B)False
100
As stated in "Finance Chiefs Warn Currency 'War' Is Risk to Growth," China was recently criticized because the:
A)yuan is overvalued.
B)yuan is undervalued.
C)push for accelerating the yuan's appreciation would be detrimental to the global economy.
D)yuan is worth more than one U.S. dollar for the first time since 1995.
101
As noted in "Finance Chiefs Warn Currency 'War' Is Risk to Growth," some European finance officials have complained that the:
A)weak euro inhibits trade.
B)euro cannot keep pace with the Chinese yuan.
C)euro is too strong.
D)euro is undervalued.
102
As indicated in "Finance Chiefs Warn Currency 'War' Is Risk to Growth," Group of Seven officials recently contended that excessive and disorderly currency movements are undesirable for financial stability.
A)True
B)False
103
As predicted in "Update on the State of the Future," by the year 2100 the world population will have:
A)leveled off and will thereafter remain fixed.
B)started to fall.
C)skyrocketed, most likely doubling between now and then.
D)continued to slowly and steadily increase.
104
As noted in "Update on the State of the Future," a feature of modern life that was once seen as a problem and is now seen as part of the solution to poverty, ignorance, disease, and malnutrition is:
A)industrialization.
B)urbanization.
C)segregation.
D)nationalization.
105
As lauded in "Update on the State of the Future," the World Health Organization and national governments around the world have been successful in stopping the spread of HIV.
A)True
B)False
106
As identified in "Asymmetric Globalization: Global Markets Require Good Global Politics," one contention of the opponents of globalization that is correct is that:
A)globalization causes corruption in government.
B)world poverty has been doubled during the process of globalization.
C)countries that compete in the global market suffer.
D)opportunities in the global market are not equal for all countries.
107
As pointed out in "Asymmetric Globalization: Global Markets Require Good Global Politics," in the better-off emerging-market economies:
A)global trade has passed them by.
B)participation in global financial markets has had negative consequences.
C)globalization has been an unqualified success.
D)resistance to the forces of globalization has stymied growth.
108
As reported in "Asymmetric Globalization: Global Markets Require Good Global Politics," liberalizing financial markets in the absence of adequate regulatory institutions and banking standards invites corruption.
A)True
B)False
109
As presented in "Puzzling over Globalisation," after factory operations, a business should next search for world-class performance in:
A)currency fluctuations.
B)sales margins.
C)the supply chain.
D)raw materials acquisition.
110
As described in "Puzzling over Globalisation," because so much is spent on it, the part of the supply chain that is often scrutinized is:
A)design.
B)purchasing.
C)service.
D)advertising.
111
As defined in "Puzzling over Globalisation," every manufacturing business small and large has a supply chain.
A)True
B)False
112
As reported in "Half a Tank," the world's people will know oil production has passed its peak when:
A)price and production increase.
B)price and production decrease.
C)price rises and production does not increase.
D)price falls and production does not increase.
113
As stated in "Half a Tank," Robert Hirsch's report on oil production:
A)suggests that the Saudis have consistently underestimated their oil reserves.
B)predicts a world oil-production peak sometime in the twenty-second century.
C)was financed by the departments of Defense and Transportation.
D)notes that economic effects will be less severe if people prepare for the post-peak in advance.
114
As noted in "Half a Tank," United States oil production has not yet reached its peak.
A)True
B)False
115
As reported in "Do Global Attitudes and Behaviors Support Sustainable Development?" a 2002 survey of the United States found that Americans strongly agreed that humans:
A)have moral duties and obligations to nature.
B)should master nature.
C)have the right to alter nature to satisfy wants and desires.
D)are not a part of nature.
116
As noted in "Do Global Attitudes and Behaviors Support Sustainable Development?" the only nations in which a significant proportion of respondents said that their governments were doing too much to help the poor were:
A)China and Portugal.
B)Great Britain and Spain.
C)Egypt and Japan.
D)the Philippines and the United States.
117
As explained in "Do Global Attitudes and Behaviors Support Sustainable Development?" survey results indicate that more people globally prefer an egalitarian society, where the gap between rich and poor is small, regardless of achievement, to a competitive society, where wealth is distributed according to one's achievement.
A)True
B)False





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