1. ECONOMICS 415 CLICKER QUESTIONS Chapter 12 – Question Set #1

2. A forest is an example of a climax community. This means 1. that the forest is an ecosystem that has arisen out of competition with other communities of organisms. 2. that the forest is the last in a series of communities. 3. that the forest is formed from successive species competing for sunlight and nutrients. 4. both 1 and 3. 5. None of the above 0 of 28

3. Opportunity costs associated with letting trees grow include 1. income that could be derived from earning interest on the revenues from sale of trees today. 2. expenses for disease prevention and control of pests. 3. income that could be derived from rent of the land, after harvest of the trees. 4. both 1 and 3. 5. None of the above 0 of 28

4. Any external change that shifts either the forgone interest (rV) or opportunity cost of land (OCL) upwards, will ceteris paribus, ______ the optimal rotation. 1. shorten. 2. have no impact upon. 3. lengthen. 4. both 1 and 2. 5. None of the above