The Reauthorization of the Magnuson Act Now

question 80

Multiple Choice

The reauthorization of the Magnuson Act now

• A)requires an ecosystem-based approach to fisheries management.
• B)limits catches of all commercial species to below maximum sustainable yield.
• C)decreases the role of the Scientific and Statistical Committee,shifting data collection to the local fisherman.
• D)encourages the collection of bycatch as a new source of revenue.

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Definitions:

Not Rival

A characteristic of a good where its consumption by one individual does not reduce availability or quality for others.

Excludable

A characteristic of a good or service that allows its owner to prevent others from using it, typically through the mechanism of property rights.

Rival in Consumption

A characteristic of a good whereby consumption by one individual prevents simultaneous consumption by another individual.

Rival in Consumption

A characteristic of goods whereby the consumption by one individual reduces the availability of the good for consumption by another individual.