The Arctic Ocean Is Experiencing Some Climate-Related Changes

question 82

Multiple Choice

The Arctic Ocean is experiencing some climate-related changes.Some waters have recently become ice-free because of rising temperatures.These waters are now too deep for some commercially important species such as Arctic cod.As ocean acidification increases, it will reduce the productivity of shelled organisms, including mollusks and some plankton.Also, stratification will likely become more intense.Warmer water will float on a layer of colder, denser, nutrient-rich water, preventing nutrients from reaching the surface.What will these changes most likely mean for Arctic fish populations?

• A) Their productivity will be higher.
• B) Their productivity will be lower.
• C) Fish will be unable to survive and will move south.
• D) As plankton and mollusks die out, new fisheries will open up.
• E) Stratification will lead to different fisheries at different depths.

Understand how a government-imposed tax affects consumer surplus, producer surplus, and total surplus.

Calculate the deadweight loss resulting from taxation.

Determine the new equilibrium price and quantity after a tax is imposed.

Calculate the tax revenue collected by the government through specific taxation.

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Definitions:

Countertrade Agreements

Foreign trade agreements that involve bartering products for other products instead of for currency.

Products

Items or services that are created through a process and are offered for sale or use.