ECON 4113
Use the following supply schedule for Oil Barrel: Oil Barrels Sale Price Oil Barrels Quantity Sold by Suppliers (thousands) $50 50Q $100 125Q $150 200Q What is the slope of the supply curve? Round your answer to the nearest hundredth (ie. x.xx)
0.67
In the United States, the inflation-adjusted total cost of floods has risen from $3.5 billion in 1903 to $12.8 billion in 2018. The primary reasons for this increase in destructive costs are... A) More houses are built in flood zones B) Rivers and flood zones are being mismanaged C) Floods are becoming more common D) Climate Change E) Average house value has increased
A) More houses are built in flood zones E) Average house value has increased
The following statement is what type of analysis? "We need to look to smarter solutions to combat climate change and we should be innovating tomorrow's technologies rather than erecting today's inefficient solutions." A) Normative Analysis B) Economic Efficiency Analysis C) Positive Analysis
A) Normative Analysis
C A) P = 15 - 0.5Q B) P= 15 - Q C) P = 15Q - 0.5 D) Q = 30 - 2P
A) P = 15 - 0.5Q
The following statement is what type of analysis? "We forecast that the annual share of U.S. electricity generation from renewable energy sources will rise from 20% in 2021 to 22% in 2022 and to 23% in 2023 because of continuing increases in solar and wind generating capacity." A) Positive Analysis B) Normative Analysis C) Predictive Analysis
A) Positive Analysis
Which type of well currently makes up the largest percentage of natural gas production? A) Shale Gas B) Gas Wells C) Beef Wellington
A) Shale Gas
Nuclear power plants have high capital costs, external costs (such as insurance), and plant operation costs. The resultant high LCOE means that nuclear plants depend upon what in order to be economical? A) Subsidies B) Emissions regulations C) Keanu Reeves cold-fusion invention
A) Subsidies
What famous Oklahoman was bullish on wind energy, investing billions of dollars in expanding its' use? A) T Boone Pickens B) Barry Sanders C) Warren Buffet D) Harold Hamm
A) T Boone Pickens
The law of demand states that as prices increase, the quantity demanded decreases. Holding all other factors equal. A) True B) False
A) True
True or False: Environmental impact assessments help policy and decision makers identify actions that could degrade environmental quality. A) True B) False
A) True
What are the main segments of the petroleum supply chain? Check all that apply. A) Upstream B) Midstream C) Refining D) Slipstream E) Downstream
A) Upstream B) Midstream E) Downstream
When developing nations have difficulty obtaining cheaper and cleaner energy sources such as natural gas, they substitute and increase usage of dirtier sources such as coal. The net effect is higher total global emissions. This is an example of a positive externality. A) True B) False
B) False
Consider an investment for a new home solar roof. Todays cost to install the roof would cost the homeowner $25,000 but would save them $125,000 of electricity fees 30 years from now. Alternatively, they could invest the $25,000 and get a return of 6% per year. Is installing the solar roof dynamically efficient? A) Yes it is efficient B) No it is not efficient
A) Yes it is efficient Use the future value formulas and refer to example 4.1 Solar roof savings is $125,000. But investing $25,000 over 30 years has an FV of $143,587. It is better to invest!
What market based solution does Bjorn Lomborg argue is the "First Way" to tackle climate change? Hint: Read False Alarm Chapter 11 A) carbon tax B) carbon capture C) environmental, social, and governance
A) carbon tax
Static Efficiency is a long-term approach. A) True B) False
B) False Dynamic Efficiency is the long-term approach. Static Efficiency is short-term
True or False. 2 percent per year is a generally agreed upon healthy rate of GDP growth for the United States? A) True B) False
B) False 2.5% to 3.5% is the healthy range. But higher is even better!
According to the World Resource Institute, what items energy needs is 1% from charging and 99% from manufacturing and operations? Hint: Read False Alarm Chapter 6 A) cell phone B) air conditioning C) lithium batteries D) electric cars
A) cell phone
No matter what form of energy is used in for our global mix, what always exists? supply and demand A) costs and benefits B) producer and consumer surplus C) fun and games
A) costs and benefits
The Present Value equation is as follows: PV=FV(1+r)t what is the 1(1+r)t part commonly referred to as? A) discount factor B) discounted value C) efficiency allocation factor D) return factor
A) discount factor
Liquefied Natural Gas (LNG) is costly to transport globally. Because of this, it often plays the role of filling in global energy gaps and limiting extreme regional prices. What is this role known as? A) peak-shaver B) price-trimmer C) supply-clipper
A) peak-shaver
What is the definition of economics? A) the study of the choices we make under the conditions of scarce resources. B) analysis with the goal of finding ways to reduce wants to eliminate the problem of scarcity. C) optimizing the distribution of surplus goods to those in need. D) the study of affluence and wealth in a morally bankrupt world.
A) the study of the choices we make under the conditions of scarce resources.
As countries get richer what happens to GDP and carbon emissions? A) GDP decreases and carbon emissions increase B) GDP increases and carbon emissions increase C) GDP decrease and carbon emissions decrease E) GDP increases and carbon emissions decrease
B) GDP increases and carbon emissions increase
Who predicted that peak oil production would occur between 1965 and 1970, and that after this the world would begin to run out of oil? A) John Maynard Keynes B) M. King Hubbert C) Harold Hotelling D) Paul Krugman
B) M. King Hubbert
Which companies on the following list are part of the current seven sisters? Check all that apply. A) OnCue B) Mobil C) Total Energies D) Saudi Aramco E) Texaco F) BP G) Exxon
B) Mobil E) Texaco F) BP G) Exxon
According to the EIA, what is the primary source for United States energy consumption? A) Natural Gas B) Petroleum C) Coal D) Biomass and Renewables E) Nuclear Power
B) Petroleum
What famous economic text first argued that self-interest driven economic actions result in the most societally beneficial outcomes? A) Capitalism and Freedom B) The Wealth of Nations C) Harry Potter and the Invisible Hand D) False Alarm
B) The Wealth of Nations
What U.S. state generates both the largest percent of total national conventional hydroelectricity, both in summer and overall in 2021? A) Iceland B) Washington C) California D) Oklahoma
B) Washington
Who was the first climate economist to be awarded the Nobel Prize in economics in 2018? Hint: Read False Alarm by Bjorn Lomborg A) Adam Smith B) William Nordhaus C) Leonardo Dicaprio D) M. King Hubbert
B) William Nordhaus
What process reduces emissions from coal energy production, by trapping emissions, compressing, and cooling the emissions for storage into special sites? A) coal refining and remitting (CFR) B) carbon capture and storage (CSS) C) carbon social responsibility (CSR)
B) carbon capture and storage (CSS)
Which of the following are advantages of renewable energy sources? Check all that apply. A) carbon free B) enhanced reliability C) increased energy independence D) creates jobs E) inexpensive
B) enhanced reliability C) increased energy independence D) creates jobs
Bituminous coal and anthracite are known as what? Hint: Read Beyond the Age of Oil - Coal A) black coals B) hard coals C) coalfish D) soft coals
B) hard coals
C A) number of housing units has increased B) more expensive houses are built in flood zones C) climate change increasing the amount of rainfall D) floods have becoming larger and more devastating E) the frequency of floods has increased
B) more expensive houses are built in flood zones
Why has the cost of US hurricanes dramatically increased over the past 100 years? Hint: Read False Alarm by Bjorn Lomborg A) the cost of hurricanes has not gone down B) the bulls-eye is expanding C) global warming has increased the number of hurricanes D) global warming made hurricanes more destructive
B) the bulls-eye is expanding
For a resource to be renewable, it has to satisfy which of the following constraints: A) 𝐑𝐞𝐬𝐨𝐮𝐫𝐜𝐞 𝐂𝐨𝐧𝐬𝐮𝐦𝐩𝐭𝐢𝐨𝐧 > 𝐑𝐞𝐬𝐨𝐮𝐫𝐜𝐞𝐬 𝐑𝐞𝐩𝐥𝐚𝐜𝐞𝐦𝐞𝐧𝐭 B) 𝐑𝐞𝐬𝐨𝐮𝐫𝐜𝐞 𝐂𝐨𝐧𝐬𝐮𝐦𝐩𝐭𝐢𝐨𝐧 < 𝐑𝐞𝐬𝐨𝐮𝐫𝐜𝐞𝐬 𝐑𝐞𝐩𝐥𝐚𝐜𝐞𝐦𝐞𝐧𝐭
B) 𝐑𝐞𝐬𝐨𝐮𝐫𝐜𝐞 𝐂𝐨𝐧𝐬𝐮𝐦𝐩𝐭𝐢𝐨𝐧 < 𝐑𝐞𝐬𝐨𝐮𝐫𝐜𝐞𝐬 𝐑𝐞𝐩𝐥𝐚𝐜𝐞𝐦𝐞𝐧𝐭
According to the United Nations, if humanity does absolutely nothing what will be the cost of global warming as a percent of GDP by the year 2100? Hint: Read False Alarm by Bjorn Lomborg A) 0 Percent B) 2.6 Percent C) 3.64 Percent D) The costs are incalculable
C) 3.64 Percent
Which of the following are variables used in calculating the levelized cost of energy (LCOE)? A) Plant Opportunity Costs B) Storage Costs C) Capital Expenditures
C) Capital Expenditures
When electricity was introduced, the natural gas shifted away from being a fuel for lighting and toward what market? A) Automobiles B) Electricity Generation C) Cooking D) LNG Exporting
C) Cooking
According to the Streetwise Professor, what constraint is the "Blindingly Obvious" reason for current LNG bottlenecks? A) Demand Constraints B) Export Policy C) Liquefaction Capacity
C) Liquefaction Capacity
What U.S. governmental agency has found that dry areas within the lower 48 states have not increased since 1895? In fact, there has likely been a slight decline in dry areas. Hint: Read False Alarm by Bjorn Lomborg A) U.S. Energy Information Administration B) National Aeronautics and Space Administration C) National Oceanic and Atmospheric Administration D) International Energy Ageny E) Army Corps of Engineers
C) National Oceanic and Atmospheric Administration
Consider the following market demand and supply curves for Liquefied Natural Gas (LNG). LNG Demand Curve: P=50,000−1.2Q LNG Supply Curve: P=4,000+0.8Q What is the equilibrium price and quantity in the LNG market? A) P*= $23,000 and Q*=22,400 B) P*= $21,400 and Q*=25,000 C) P*= $22,400 and Q*=23,000 D) P*= $50,000 and Q*=20,000
C) P*= $22,400 and Q*=23,000
According to the EIA, what primary energy consumption source is projected to grow the fastest by 2050? A) Petroleum and other liquids B) Coal C) Renewables D) Nuclear
C) Renewables
Most managers and policy maker prefer less risk to more risk, or in other words they will not generally take a 50-50 bet. What of the following terms describes this behavior? A) Risk Loving B) Risk Neutral C) Risk Averse D) Risky Business
C) Risk Averse
What is the overwhelming cause of global greening? Hint: Read False Alarm by Bjorn Lomborg A) global warming B) conservation laws C) carbon-dioxide fertilization D) government reforestation projects
C) carbon-dioxide fertilization
Renewable energy sources, such as wind and solar, often produce excess electricity compared to the needs of the owner. A payment for excess electricity fed from the owner, back into the supply grid is known as... A) energy efficiency B) payback time C) feed-in tariff
C) feed-in tariff
In False Alarm, the author argues that climate change is real, it is caused by carbon emissions from humans burning fossil fuels, and we should tackle it..... A) scientifically B) immediately C) intelligently D) together E) like an offensive lineman
C) intelligently
What dimension of sustainability is focused upon the resilience of biophysical systems, through clean and healthy air, water, and soils? A) Resource Sustainability B) Social Sustainability C) Energy Sustainability D) Environmental Sustainability
D) Environmental Sustainability
In 2020, what nation produced the largest share of its' total electricity production from nuclear sources? A) China B) Sweden C) Iceland D) France E) United States
D) France
Which type of energy production harnesses the power of the atom, by colliding them so they split and release energy in the form of heat and radiation? A) Supercollider B) Wind C) Solar D) Nuclear
D) Nuclear
You work for Pistol Pete Natural Gas Co and there is 30 MMBtu worth of natural gas reserves available to use across both period 0 and period 1. Marginal cost of extracting the natural gas is zero. Market Demand is Q=30−2P If Pistol Pete Natural Gas Co were to produce all 30 MMBtu worth of reserves today (period 0), what would be the total social welfare next year (period 1)? $195 $225 $0 30MMBtu
$0
After 2015, for every dollar spent on aid to the developing world how many cents of it goes to climate purposes? Hint: Read False Alarm Chapter 10 A) 15-20 cents B) less than 15 cents C) over 25 cents D) 20-25 cents
) over 25 cents
You buy a WTI futures contract on the WTI with a maturity of 12 months and at a price of $95.25 per barrel. How much did you pay for the contract? Enter your answer without a dollar sign or comma, and rounded to the nearest whole dollar (ie. XXXXX). 95,250
95,250 = 95.25X1000
You work for Pistol Pete Natural Gas Co and there is 30 MMBtu worth of natural gas reserves available to use across both period 0 and period 1. Marginal cost of extracting the natural gas is zero. Market Demand is Q=30−2P Suppose Pistol Pete Natural Gas Co was to set production equal in both period 0 and period 1 and that the current interest rate is 20%. Then total social welfare in Period 0 would be equal to [ Select ] ["225", "168.75", "112.5", "56.25"] and total social welfare in period 1 would be [ Select ] ["150.875", "140.625", "33.75", "202.5"] . GRAPH = $-$15 $10 $5 $0 Q- 10, 20, 30
Answer 1 168.75 ANSWER 2 140.625
You work for Pistol Pete Natural Gas Co and there is 30 MMBtu worth of natural gas reserves available to use across both period 0 and period 1. Marginal cost of extracting the natural gas is zero. Market Demand is Q=30−2P Also assume the current interest rate is 20%. Suppose Pistol Pete Natural Gas Co was to produce 25MMBtu in period 0 and 5MMBtu in period 1. The resulting price in period 0 would be $2.5 and the total social welfare in period 0 would be [ Select ] ["206.25", "218.75", "156.25", "6.25", "187.5"] . The resulting price in period 1 would be [ Select ] ["$3", "$15", "$10", "$12.5"] and the total social welfare in period 0 would be 57.3 . GRAPH = $-$15 $10 $5 $0 Q- 10, 20, 30
Answer 1:Correct!$2.5 Answer 2:Correct!218.75 Answer 3:Correct!$12.5 Answer 4:Correct!57.3
True or False: Energy conservation reduces energy needs by improving the technical performance of devices and building materials. A) True B) False
B) False
True or False: Solar is a fully zero-carbon process. A) True B) False
B) False
According to the following graph, if the market is in equilibrium, producer surplus is the area: A) A + B + C B) A + B + C + D + E C) A + B + D D) D + E
D) D + E
The law of supply suggests... A) A negative relationship between price and quantity B) A positive sloping supply curve C) That suppliers aim to maximize profit
B) A positive sloping supply curve
"The Geysers" is the largest geothermal (dry steam) field in the world. Where is it located? A) Greenland B) California C) Hawaii D) Iceland
B) California
True or False. Marginal benefit is the incremental expense of producing one more additional unit of a good or service. A) True B) False
B) False
True or False: California Bill SB100 set into state law a target of 100 percent carbon-free electricity by 2045. This is a market-based solution. A) True B) False
B) False
In 2015, US GDP was $18.24 trillion. In the same year, energy expenditures totaled $1.13 trillion. Use this information to calculate the US Energy Intensity ratio for 2015. Give your answer in percentage terns and round the final answer to one decimal place. (X.X%) FILL IN BLANK= 6.2 (with margin: 0) $1.13 trillion / $18.24 trillion = 0.06195 which rounds to 6.2%
6.2 (with margin: 0) $1.13 trillion / $18.24 trillion = 0.06195 which rounds to 6.2%
Consider the following market graph. If the market moves from equilibrium to a price of $4, what is the size of the deadweight loss occurring? Enter your answer as a whole number with no symbols. Hint: There is more than one area you will need to calculate! DW LOSS= 1/2 X PRICE DIFFERENCE X QUANTITY DIFFERENCE
60
Cowboy Gas Corp. has a monopoly on coal production. Given the market graph and demand curve below, answer the following questions: Market Demand Curve: P=25−0.1Q Hint: Example 3.5 may help 1) What is the slope of the demand curve? Write your answer to the nearest hundredth (ie. +X.XX or -X.XX) -0.10 ---ANSWER 2) At what price does Cowboy Gas sell its'' gas at? $25 3) What happens to Total Revenue (TR) if Cowboy Gas lowers the price to $13? ---[ Select ] ["TR does not change", "Decreases by $300", "Increases by $300"] 4) What is Cowboy Gas's revenue per unit after lowering the price to $13? ----$1.00 3) Would you recommend Cowboy Gas to decrease their sale price to $13? ---[ Select ] ["Yes", "No"]
1. -10 2.$19 3. Increases by $300 4. $2.50 5. Yes When increasing the quantity from 60 to 120 units, the revenue per extra unit is only $2.50.The marginal cost (MC) going to be more than $4.00. Therefore, when MR<MC it is not profit-maximizing to decrease the price.
Consider the demand curve for Solar Roofs in the United States. For simplicity, assume that all Solar Roofs are identical and sell for the same price. Also, assume that: The current market price of Solar Roofs is $30,000Average Household income is $60,000 per yearPrice of a natural gas is $5 per MMBtu. Suppose the price of a solar roof decreased from $30,000 to $25,000. This would cause a [ 1. Select ] ["shift to the right for", "movement along", "increase in the slope of"] the demand curve. If an increase in average income causes a rightward shift of the demand curve, then you may conclude that solar roofs are a [ 2. Select ] ["Economically Efficient", "Luxury", "Normal", "Subsitute"] good. Suppose that the price of a natural gas rises from $5 to $6. Because solar power and natural gas are [3. Select ] ["both energy sources", "substitutes", "compliments"] , an increase in the price of a natural gas shifts the demand curve for solar roofs to [ 4. Select ] ["not shift at all", "shift to the left", "shift to the right"] .
1. movement along 2. Normal 3. Substitutes 4. shift to the left
You work for Pistol Pete Natural Gas Co and there is 30 MMBtu worth of natural gas reserves available to use across both period 0 and period 1. Marginal cost of extracting the natural gas is zero. Market Demand is Q=30−2P Also the current interest rate is 20%. Using the equimarginal principle, what quantity will be sold in the market in period 0? Round your final answer to the nearest single decimal place (ie. X.X). GRAPH = $-$15 $10 $5 $0 Q- 10, 20, 30
16.4 (with margin: 0.1)
Consider a market for natural gas dryers with the following demand curve: P=250−0.6Q If consumers are demanding 120 dryers, what must their price be?
178
You work for Pistol Pete Natural Gas Co and there is 30 MMBtu worth of natural gas reserves available to use across both period 0 and period 1. Marginal cost of extracting the natural gas is zero. What is the new total social welfare if Pistol Pete Gas Co. increases the price per MMBtu to $2? Market Demand is Q=30−2P GRAPH = $-$15 $10 $5 $0 Q- 10, 20, 30
221 (with margin: 0) First, use the new market price to solve for quantity sold (it will equal 26MMBtu). 2P+$2=4 30-4=26 Next, calculate consumer surplus: CS=0.5×(15−2)×(26) And calculate producer surplus: PS=(2−0)×26 Then add CS and PS together to find SW!
You work for Pistol Pete Natural Gas Co and there is 30 MMBtu worth of natural gas reserves available to use across both period 0 and period 1. Marginal cost of extracting the natural gas is zero. Market Demand is Q=30−2P What is the total social welfare (SW) assuming there is no limit on our reserves and only one-period of production? Your answer should be a whole number with no dollar symbol.
225 (with margin: 0)225,000,000,000 (with margin: 0) First, try solving for the x and y intercepts. Then use those to calculate the area of the resulting triangle. There is no producer surplus because P=MC=0.
C FILL IN BLANK= 252.63 (with margin: 0.1)
252.63 (with margin: 0.1) 84,380,000,000,000,000/ 334,000,000 = 252,634,000 which rounds to 252.63 million That is a lot of zeros!
In 2019, total US energy consumption was 100.471 quadrillion Btu while the population was 328.2 million. Calculate US energy consumption per capita for 2019. Round the final answer to the nearest whole number and put in terms of million BTUs. FILL IN BLANK 306 (with margin: 0)
306 (with margin: 0) 100,417,000,000,000,000 / 328,200,000 = 305.96 million which rounds to 306!
You work for Stilly Gas Co, which uses natural gas to provide energy to the surrounding area. In 2020, Stilly Gas bought $52 million of LNG imports at a price of $4.00 per MMBtu. In 2022, after the price of LNG skyrocketed, Stilly Gas purchased a total of 15 MMBtu of LNG at the new global price of $10 per MMBtu. What was the Marginal Factor Cost (MFC) for the additional LNG purchased by Stilly Gas Co in 2022? Round your answer to the nearest whole dollar and do not include a dollar sign (ie, XX)
49
Consider a market for natural gas dryers with the following supply curve: P=90+1.2Q What quantity of dryers are supplied at a price of $150 per dryer?
50
Consider the following graph. If the market is in equilibrium, how much consumer surplus is occurring? A) 30 B) 120 C) 80 D) 200
B) 120 calculate the size of the upper triangle (between the demand curve and equilibrium)!
According to William Nordhaus DICE model, what is the global temperature rise (in Fahrenheit) goal that finds the optimal balance between climate costs and climate policy costs? Hint: Read False Alarm Chapter 11 A) 6.75 degrees B) 3.9 degrees C) no temperature rise D) 7.4 degrees
A) 6.75 degrees
Which of the following are examples of externalities? A) Air pollution from burning fossil fuels. B) Cost of filling up a tank of gas. C) Fewer freezing deaths due to increased energy availability. D) Financial profits gained from opening a nuclear plant.
A) Air pollution from burning fossil fuels. C) Fewer freezing deaths due to increased energy availability.
What type of good in non-rival and excludable? A) Club goods B) Private goods C) Public goods D) Common goods
A) Club goods
What is wrong with the statement: Demand refers to the willingness of buyers to purchase different quantities of a good at different prices during a specific time period: A) Demand refers to the willingness and ability of buyers, not just willingness. B) Instead of "demand", it should be "quantity demanded". C) Instead of "willingness", it should be "ability". D) There is nothing wrong with the statement.
A) Demand refers to the willingness and ability of buyers, not just willingness.
Which of the following are included in social costs? A) Externalities B) Private Costs C) Business Costs D) Opportunity Costs E) Direct Costs
A) Externalities B) Private Costs
According to The Economist article "Why the oil price is spiking again", Russian oil exports have risen even though they are placed under sanctions. Where has much of the increased exports gone? A) India B) China C) Germany D) United State
A) India
Which of the following are characteristics of a perfectly competitive market A) Large number of buyers B) No barriers to entry C) Homogenous Products D) Unique products E) Firms are price-setters
A) Large number of buyers B) No barriers to entry C) Homogenous Products
What compound makes up the largest percentage of natural gas? A) Methane B) Nitrogen C) Rare Gases D) Carbon Dioxide
A) Methane
The International Energy Agency (IEA) estimates that the average subsidy for electric cars to be... Hint: Read False Alarm Chapter 6 A) $15,000 B) $5,000 C) worth it D) $10,000
D) $10,000
In 2011, the Department of Energy launched the Sunshot Initiative, with the stated goal of reducing total solar costs by 75 percent. In what year did it reach this goal? A) 2020 B) did not reach the goal C) 2012 D) 2017
D) 2017
After Russia invaded Ukraine, the difference between the cost of oil and the cost to refine it became ridiculously wide. What is this cost difference known as? Hint: Read the Canvas PDFs A) Supply Curve B) Crackerjack C) Refinery Spread D) Crack Spread
D) Crack Spread
You work for Pistol Pete Natural Gas Co and there is 30 MMBtu worth of natural gas reserves available to use across both period 0 and period 1. Marginal cost of extracting the natural gas is zero and the current interest rate is 20%. Market Demand is Q=30−2P However, now you make a huge discovery which increases the total gas reserves to 50MMBtus! What do you expect will happen to the market price and market output after the discovery? A) Output will decrease and price will decrease B) Output will decrease and price will decrease C) Output will increase and price will increase D) Output will increase and price will decrease GRAPH = $-$15 $10 $5 $0 Q- 10, 20, 30
D) Output will increase and price will decrease
What Stanford ecologist famously predicted on the Tonight Show and CBS National News, that "the utter breakdown of the capacity of the planet to support human activity" would occur by 1985 and that 2 billion people would die as a result? Hint: Read False Alarm Chapter 16 A) Johnny Carson B) Al Gore C) Carl Sagan D) Paul Ehrlich
D) Paul Ehrlich
In Beyond The Age of Oil, what does the author believe is the most important and effective source of alternative energy? A) clean coal B) renewables C) natural gas D) energy efficiency
D) energy efficiency
What paradox states that greater efficiency in the use of energy sources, leads to an increase in energy consumption? A) pareto efficiency B) free rider effect C) law of energy conservation D) rebound effect
D) rebound effect
The biggest advantage of solar is.... A) low cost to produce B) zero-carbon process C) can be used anywhere D) unlimited resource
D) unlimited resource
The injection of a fluid at high pressure into an underground rock formation to open fissures and allow trapped gas or crude oil to flow through a pipe to a wellhead at the surface, is commonly known as what? A) shaling B) liquefaction C) crack spread D) upstream E) fracking
E) fracking
You buy a European call option for Brent crude oil. The strike price is $70 per barrel with the right to buy 100 barrels. The expiration is 3 months from now and the option premium is $15 per barrel. If the spot price at expiration is $80, do you exercise the option? [ Select ] What is your total profit or loss? [ Select ]
YES; LOSS OF $500
