6. To use energy resources efficiently, what costs would you suggest to be included in energy prices? a. Private costs.

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6. To use energy resources efficiently, what costs would you suggest to be included in
energy prices?
a. Private costs.
b. Private costs plus external costs.
c. Social costs plus external costs.
d. Social costs minus external costs.
7. An economic perspective supports which of the following statements?
a. Energy resources are running out.
b. Energy conservation is necessary to achieve economic efficiency.
c. An advance in energy-efficient technologies may increase total energy use.
d. The trend of lower energy intensity is due to a rising population.
8. Which of the following assertions regarding the economic approach is false?
a. The goal of the economic approach is to maximize net benefits.
b. A change is economically efficient as long as marginal benefit is at least as great
as marginal cost.
c. A change is economically efficient as long as the marginal social benefits exceed
marginal private benefits.
d. Economists prefer incentive-based policies to command-and-control
9. Which of the following assertions regarding social efficiency and social welfare is
correct?
a. They are the same concept
b. Social welfare includes both economic efficiency and equity whereas social
efficiency does not include equity
c. Social efficiency includes both economic efficiency and equity whereas social
welfare does not include equity
d. Social efficiency is a higher standard than social welfare