FSU PUP3002 Exam 3 Questions and
Answers
subsidy - ANSWER-payments from the government to an institution or individual in
return for a behavioral choice
output standard - ANSWER-outright bans or limitations on the amount of a given
externality (ex: air pollution) that may be produced
Intensity - ANSWER-How strongly people feel about certain political issues.
stability - ANSWER-how much volatility we observe in citizen attitude over time
Salience - ANSWER-the relative importance of a given issue relative to other issues
National Environmental Policy Act - ANSWER-(1970) Environmental Impact
Statements must be done before any project affecting federal lands can be started
Created Council on Environmental Quality
Environmental Protection Agency (EPA) - ANSWER-an independent federal agency
established to coordinate programs aimed at reducing pollution and protecting the
environment
Clean Air Act - ANSWER-1970- law that established national standards for states,
strict auto emissions guidelines, and regulations, which set air pollution standardds
for private industry
cradle-to-grave approach - ANSWER-Requires manufacturers to take back
electronic products at the end of their useful lives and repair, remanufacture, or
recycle them
Clean Water Act - ANSWER-(1972) set maximum permissible amounts of water
pollutants that can be discharged into waterways; aims to make surface waters
swimmable and fishable
principal-agent theory - ANSWER-Analyses of how policy makers (principals) can
control actors who work for them (agents) but have far more information
Moral Hazard - ANSWER-the agents not bearing the entire costs of their poor task
performance
Adverse Selection - ANSWER-Principals cannot be confident that the bureaucrats
tasked with carrying out the policy at hand possess similar preferences
, ex post control - ANSWER--wait for an agent to misbehave, then punish
-if agents view this as credible, they will attempt to avoid punishment by fulfilling the
principals demands
Ex ante control - ANSWER-Actions that a principal takes prior to an agents action to
incentivize a desired behavior
Technical Uncertainty - ANSWER-the uncertainty the agency has in its estimate of
the policy consequences of a given choice
procedural uncertainty - ANSWER-the uncertainty about what type of choice the
agency is likely to make
weather - ANSWER-The condition of Earth's atmosphere at a particular time and
place.
climate - ANSWER-Variations in average weather over long to extremely long
periods of time
greenhouse effect - ANSWER-Natural situation in which heat is retained in Earth's
atmosphere by carbon dioxide, methane, water vapor, and other gases
Risk Management - ANSWER-The process after the assessment that more explicitly
allows for the introduction of politics into its decisions
determines whether the risks associated with the substance worth regulating despite
the economic costs of doing so
risk assessment - ANSWER-a multi-step process to determine how much a given
substance/pollutant will harm a community
Steps of risk assessment - ANSWER-Step 1: Hazardous identification
Step 2: Dose Response
Step 3: Exposure Assessment
Step 4: Risk Characterization
Assessing risk depends on three critical components - ANSWER-cost-benefit
analysis
risk orientation
orientation toward scientific uncertainty
climate change - ANSWER-Change in the statistical properties of the climate system
when considered over periods of decades
Scientific Uncertainty - ANSWER-The lack of certainty in the outcome of a specific
process or set of processes.
satisfice - ANSWER-accepting solutions that are "good enough"
Answers
subsidy - ANSWER-payments from the government to an institution or individual in
return for a behavioral choice
output standard - ANSWER-outright bans or limitations on the amount of a given
externality (ex: air pollution) that may be produced
Intensity - ANSWER-How strongly people feel about certain political issues.
stability - ANSWER-how much volatility we observe in citizen attitude over time
Salience - ANSWER-the relative importance of a given issue relative to other issues
National Environmental Policy Act - ANSWER-(1970) Environmental Impact
Statements must be done before any project affecting federal lands can be started
Created Council on Environmental Quality
Environmental Protection Agency (EPA) - ANSWER-an independent federal agency
established to coordinate programs aimed at reducing pollution and protecting the
environment
Clean Air Act - ANSWER-1970- law that established national standards for states,
strict auto emissions guidelines, and regulations, which set air pollution standardds
for private industry
cradle-to-grave approach - ANSWER-Requires manufacturers to take back
electronic products at the end of their useful lives and repair, remanufacture, or
recycle them
Clean Water Act - ANSWER-(1972) set maximum permissible amounts of water
pollutants that can be discharged into waterways; aims to make surface waters
swimmable and fishable
principal-agent theory - ANSWER-Analyses of how policy makers (principals) can
control actors who work for them (agents) but have far more information
Moral Hazard - ANSWER-the agents not bearing the entire costs of their poor task
performance
Adverse Selection - ANSWER-Principals cannot be confident that the bureaucrats
tasked with carrying out the policy at hand possess similar preferences
, ex post control - ANSWER--wait for an agent to misbehave, then punish
-if agents view this as credible, they will attempt to avoid punishment by fulfilling the
principals demands
Ex ante control - ANSWER-Actions that a principal takes prior to an agents action to
incentivize a desired behavior
Technical Uncertainty - ANSWER-the uncertainty the agency has in its estimate of
the policy consequences of a given choice
procedural uncertainty - ANSWER-the uncertainty about what type of choice the
agency is likely to make
weather - ANSWER-The condition of Earth's atmosphere at a particular time and
place.
climate - ANSWER-Variations in average weather over long to extremely long
periods of time
greenhouse effect - ANSWER-Natural situation in which heat is retained in Earth's
atmosphere by carbon dioxide, methane, water vapor, and other gases
Risk Management - ANSWER-The process after the assessment that more explicitly
allows for the introduction of politics into its decisions
determines whether the risks associated with the substance worth regulating despite
the economic costs of doing so
risk assessment - ANSWER-a multi-step process to determine how much a given
substance/pollutant will harm a community
Steps of risk assessment - ANSWER-Step 1: Hazardous identification
Step 2: Dose Response
Step 3: Exposure Assessment
Step 4: Risk Characterization
Assessing risk depends on three critical components - ANSWER-cost-benefit
analysis
risk orientation
orientation toward scientific uncertainty
climate change - ANSWER-Change in the statistical properties of the climate system
when considered over periods of decades
Scientific Uncertainty - ANSWER-The lack of certainty in the outcome of a specific
process or set of processes.
satisfice - ANSWER-accepting solutions that are "good enough"
