Global Final

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In terms of technology adoption, "lock-in", is defined as the inability of a producer, a consumer or society to move from one solution/state to another without extremely large transition costs.

True

Capital factors of production

A stock that is not used up during a single production period, provides services over time, and retains a unique identity

In a series of experiments Bonnefon, Shari, and Rahwan found that participants were generally comfortable with utilitarian Autonomous Vehicles, programmed to minimize an accident's death toll. That is the vehicle might choose to run over and kill a single person in order to avoid plowing into a crowd and killing several.

True

Garrett Hardin has argued that mutual coercion, mutually agreed upon by the majority of the people affected is the most reasonable way to solve the tragedy of the commons.

True

Gasoline powered vehicles produce pollution primarily through the tailpipe during operation while fully electric vehicles create pollution mostly from the production of the fuel they use.

True

Geothermal energy generally has a low levelized cost of electricity (LCOE) relative to coal, natural gas, wind and solar.

True

Green transportation has a low or a negative effect on the environment since it makes use of energy sources that are sustainable.

True

Hydrogen Fuel Cell vehicles have excellent ratings in terms of greenhouse gases and smog but are generally not as cost effective as electric vehicles

True

If another 500 megalitres of water applied to the field of Farmer Samik increases rice yields less than the same 500 megalitres applied to field of Farmer Ramesh, then the water has more value to Farmer Ramesh (everything else held constant).

True

If production of a product creates a negative externality, the social value of production is generally less than the private value.

True

Improving the quality and quantity of energy was an important goal of the Millenium Villages Project.

True

In a Random Controlled Trial (RCT), the assignment of different units to different treatment groups is chosen randomly. This insures that no unobservable characteristics of the units is reflected in the assignment, and hence that any difference between treatment and control units reflects the impact of the treatment.

True

In the United States, more than 20% of energy use and carbon emissions are associated with the transportation sector.

True

Inputs may be perfect complements in that they must be used in a fixed ratio as part of a production process

True

Intel has now certified that all of its processors are ``conflict free''.

True

It a production of a product creates a negative externality, the social cost of production is generally higher than the private cost.

True

James C. Carter, a lawyer appointed to present the claims of the United States before the Bering Sea tribunal said the following. ``The extent of dominion which, by the law of nature, is conferred upon particular nations over the things of the earth is limited in that the things themselves are not given; but only the increase or usufruct thereof.''

True

Which of the following are examples of common pool resources?

a wilderness area such as the Badlands Wilderness a pasture open to all

Economic capital

the amount of risk....

Tailings are

the materials left over after the process of separating the valuable fraction from the uneconomic fraction of an ore.

Sound

the movement of energy through substances in longitudinal waves

Human capital

the muscle power....

Upcycling

the process of converting an industrial material or product into something of similar or greater value

Use value

the quantitative aspects....

Thermal energy

the random motion....

Natural climate forcings include

•Changes in the Sun's brightness •Milankovitch cycles •Large volcanic eruptions

Which of the following are examples of market failure?

•Climate change induced by human activities •Fishery communities near Mumbai, India •The person-to-person market for used cars •The condition of Guanabara Bay, the site of Olympic sailing events during the summer Olympics in Rio •The manufacture and sale of epi-pens

The following are common causes of market failure.

•Uncertainty or asymmetric information •Externalities •Natural monopoly •Public goods such as common pool resources

Dispatchable Power

A power system that can be scheduled to produce power when needed

Non-Dispatchable Power

A power system that cannot be scheduled to produce power when needed

negative right

A right not to be subjected to an action of another person or group

natural right

A right one is born with as a human being.

positive right

A right to be subjected to an action or another person or group

Form

E-85 versus E-10, Organic carrots

Firms who maximize profit always minimize the social cost of producing the profit maximizing output level.

False

Automobiles will become nodes in mobile networks.

Mobility Internet

Manage traffic more optimally

Mobility Internet

Consider a piece of equipment for which the expenditure at the beginning of period 1 is $50,000 The net revenue at the end of year 1 is $10,000. The net revenue at the end of year 2 is $20,000. The net revenue at the end of year 3 is $25,000. Note that the total net revenue exceeds the cost. What is the levelized net revenue with three equal payments at the end of years 1 to 3 with an interest rate of 7%? The annuity factor with a 7% nominal discount rate and three payments is given by ( 1 − 1 ( 1 + i ) η i ) = ( 1 − 1 ( 1.07 ) 3 .07 ) = 2.6243

-1,558.55548

Consider a piece of equipment for which the expenditure at the beginning of period 1 is $75,000. Given that this is a cost, consider it as a negative in a net revenue framework. The net revenue at the end of year 1 is $10,000. The net revenue at the end of year 2 is $15,000. The net revenue at the end of year 3 is $20,000. The net revenue at the end of year 4 is $40,000. This includes revenue from operations and sale of the used equipment. The interest rate is 5%.

-1,685.89734

Betty prefers $9.00 now to $10.00 one year from now but prefers $10.00 one year from now to $8.50 now. Which of the following provides the tightest correct bounds on her personal rate of discount, ?

.1 1 ¯ ⪯ i p ⪯ 0.17647

Beth prefers $9.00 now to $10.00 one year from now but prefers $10.00 one year from now to $8 now. Which of the following provides the tightest correct bounds on her personal rate of discount, ?

.1 1 ¯ ⪯ i p ⪯ 0.25

Joseph prefers $60.00 now to $62.00 one year from now but prefers $65.00 one year from now to $60.00 now. Which of the following provides the tightest correct bounds on his personal rate of discount, i p?

0.03 3 ¯ ⪯ i p ⪯ 0.083 3 ¯

Julia prefers $100 now to $103 one year from now but prefers $106 one year from now to $100 now. Which of the following provides the tightest correct bounds on her personal rate of discount, ?

0.03 ⪯ i p ⪯ 0.06

Finneas prefers $12.00 now to $13.00 one year from now but prefers $15.00 one year from now to $12.00 now. Which of the following provides the tightest correct bounds on her personal rate of discount, ?

0.083 3 ¯ ⪯ i p ⪯ 0.25

Macey prefers $20.00 now to $23.00 one year from now but prefers $25.00 one year from now to $20.00 now. Which of the following provides the tighest correct bounds on her personal rate of discount, i p?

0.15 ≺ i p ≺ 0.25

Marge prefers $19.00 now to $22.00 one year from now but prefers $22.00 one year from now to $17.00 now. Which of the following provides the tighest correct bounds on her personal rate of discount, i p ?

0.157895 ⪯ i p ⪯ 0.2941

A 1 kilowatt (1 kW) cooking stove burner requires 1 hour (1h) to cook beans and rice for a meal. The stove is 30% efficient. How much energy is used in the cooking process (i.e., how much energy input does the stove use during the cooking process)? (kWh)

1 kWh

What is the amount of work done by the applied force when a 60 kg object is lifted 3 meters at constant speed? The answer will be in joules. Note that g = standard acceleration of gravity = . Also note that there are 3.28084 feet in a meter, 2.2046 lbs in a kilogram, and 0.73756 ft-lbf in a Joule.

1,765.197

With a 4% annual rate of discount, $2,163.20 two years from now is worth what amount now?

1,950

A cooking stove uses 2 kWh of energy to cook beans and rice for a meal. The stove is 40% efficient. How much energy is lost as a part of this process (i.e., how much energy input does not directly contribute to the cooking the food)? (kWh)

1.2 kWh

With a 10% annual rate of discount, $11 one year from now is worth what amount today?

With a 4% annual rate of discount, $108.16 two years from now is worth what amount now?

100

Consider an asset which has no initial cost but for which there is an expenditure of $5,000 at the end of the first year. The net cost at the end of year 2 is $10,000. With an interest rate of 6%, what is the net present value of this cost stream at the beginning of period 1 (which is the same as the end of period 0)?

13,116.94553

The United States currently generates approximately 4100 TWh of electricity annually. By the year 2030, advocates of wind energy have proposed that at least 20% of the national electricity usage be generated by wind energy. Currently, the installed wind turbines in the US account for a total of 60,000 MW of rated capacity. Assume the average wind turbine has a rated capacity of 2 MW, a capacity factor of 25%, and occupies 0.2 𝑘𝑚2km2𝑘𝑚2km2 of land. How much electricity is currently generated by wind energy each year (MWh/yr)?

131,400,000

With a 4% annual rate of discount, $12,480 one year from now is worth what amount four years from now?

14,038.3

Consider an asset which has no initial cost but for which there is an expenditure of $10,000 at the end of the first year. The net cost at the end of year 2 is $15,000. The net cost at the end of year 3 is $20,000. With an interest rate of 6%, what is a levelized cost payment payable at the end of years 1, 2, and 3 which has the same present value as the actual cost stream at the end of period 0. The annuity factor with an interest rate of 6% and three payments is given by

14,805.88

Consider a piece of equipment for which the expenditure at the beginning of period 1 is $25,000 The net revenue at the end of year 1 is $10,000 The net revenue at the end of year 2 is $15,000 The net revenue at the end of year 3 is $20,000, which includes salvaging the equipment. The interest rate is 5%. What is the net present value of this investment over the three year period including the initial purchase of the asset and the revenue from the first three years of operation (including sale of the equipment)?

15,406.00367

Consider an asset that you purchase for $80,000. Its nominal resale value after four years of ownership is $25,000. At that time you plan to sell it and retire at Lake Tahoe. What is the levelized cost of holding the asset for the four year period if the annuity factor for four years at 4% is

15,551.95

Consider an asset that you purchase for $85,000 today. Its nominal resale value after four years of ownership is $25,000. At that time you plan to sell it and become a hermit in Southern India. The nominal discount rate is 2%. What is the annuity payment occurring at the end of years 1, 2, 3, and 4 that has the same net present value as net present cost if the annuity factor is given by

15,557.43

Consider a piece of equipment for which the expenditure at the beginning of period 1 is $30,000. Given that this is a cost, consider it as a negative in a net revenue framework. The net revenue at the end of year 1 is $10,000. The net revenue at the end of year 2 is $15,000. The net revenue at the end of year 3 is $15,000. The net revenue at the end of year 4 is $20,000. This includes revenue from operations and sale of the used equipment. The interest rate is 10%.

16,417.59443

With a 4% annual rate of discount, $17,997.824 three years from now is worth what amount one year from now?

16,640

The Homestead Act and the Reclamation Act of 1902 both limited holdings to how many acres?

160

Consider an asset which has no initial cost but for which there is an expenditure of $20,000 at the end of the first year. The net cost at the end of year 2 is $15,000. With an interest rate of 3.5%, what is a levelized cost payment payable at the end of years 1 and 2, which has the same present value as the actual cost stream at the end of period 0. The annuity factor with an interest rate of 3.5% and two payments is given by

17,042.99754

Consider a piece of equipment for which the expenditure at the beginning of period 1 is $35,000.00. The cost at the end of year 1 is $5,000.00 The cost at the end of year 2 is $6,000.00 The cost at the end of year 3 is $8,000. The interest rate is 3%. What is the levelized net cost with three equal payments at the end of years 1 to 3 if the annuity factor is given by

17,677.39008

First commercial coal production in U.S. begins in Richmond, Virginia

1748

British use natural gas produced from coal to light houses and streets

1785

Consider an asset which has no initial cost but for which there is an expenditure of $20,000 at the end of the first year. The net cost at the end of year 2 is $16,000. With an interest rate of 2%, what is a levelized cost payment payable at the end of years 1 and 2, which has the same present value as the actual cost stream at the end of period 0. The annuity factor with an interest rate of 2% and two payments is given by

18,019.802

Consider a piece of equipment for which the expenditure at the beginning of period 1 is $55,000. Given that this is a cost, consider it as a negative in a net revenue framework. The net revenue at the end of year 1 is $10,000. The net revenue at the end of year 2 is $18,000 The net revenue at the end of year 3 is $24,000 The net revenue at the end of year 4 is $35,000. This includes revenue from operations and sale of the used equipment. The interest rate is 6%.

18,328.03919

Consider an asset that you purchase for $70,000. Its nominal resale value after three years of ownership is $20,000. At that time you plan to sell it and move to a retirement community in Marion, Ia. What is the levelized cost of holding the asset for the three year period if the annuity factor for three years at 5% is

18,760.43

Ethanol blend becomes popular lamp fuel in U.S., displacing whale oil

1830s

First commercial oil well drilled by Edwin Drake in Pennsylvania; kerosene begins to displace other lamp fuels

1859

Abraham Lincoln enacts an ethanol tax to help finance the civil war, severely hampering the ethanol fuel industry

1862

First windmill to generate electricity developed in Cleveland, Ohio

1888

Svante Arrhenius says that fossil fuel comstion may cause global warming

1896

Levelized Cost of Electricity

A first-order economic assessment of the cost competitiveness of an electricity-generating system that incorporates all costs over its lifetime.

Consider a piece of equipment for which the expenditure at the beginning of period 1 is $30,000. Given that this is a cost, consider it as a negative in a net revenue framework. The net revenue at the end of year 1 is $8,000. The net revenue at the end of year 2 is $10,000. The net revenue at the end of year 3 is $14,000. The net revenue at the end of year 4 is $22,000. This includes revenue from operations and sale of the used equipment. The interest rate is 3%.

19,551.64767

Consider an asset that you purchase for $84,000. Its nominal resale value after four years of ownership is $29,282. At that time you plan to sell it and move to a retirement community in Fort Dodge, Ia. What is the annuity or levelized cost payment that has the same net present cost to you of holding this asset if the nominal discount rate is 10%? The annuity factor is given by

19,690.13

World's first geothermal power plant is built in California

1921

First silicon solar cell developed at Bell Laboratories

1953

What is the amount of work done by the applied force when a 10 kg object is lifted 2 meters at constant speed? Note that g = standard acceleration of gravity =

196 Newton meters 196 Joules

Consider a piece of equipment for which the expenditure at the beginning of period 1 is $20,000. Given that this is a cost, consider it as a negative in a net revenue framework. The net revenue at the end of year 1 is $5,000. The net revenue at the end of year 2 is $7,000. The net revenue at the end of year 3 is $10,000. The net revenue at the end of year 4 is $15,000. This includes revenue from operations and sale of the used equipment. The interest rate is 10%. What is the levelized net revenue with four equal payments at the end of years 1 to 4 if the annuity factor is given by

2,051.82073

2,052.8207

Consider a piece of equipment for which the expenditure at the beginning of period 1 is $25,000. The net revenue at the end of year 1 is $10,000.00 The net revenue at the end of year 2 is $12,000.00 The net revenue at the end of year 3 is $15,000. The interest rate is 4%. So total net revenue is $37,000 against a purchase cost of $25,000. What is the levelized net revenue with three equal payments at the end of years 1 to 3 if the annuity factor is given by

2,259.35418

Consider an asset which has no initial cost but for which there is an expenditure of $2,000 at the end of the first year. The net cost at the end of year 2 is $4,000. With an interest rate of 5%, what is a levelized cost payment payable at the end of years 1 and 2, which has the same present value as the actual cost stream at the end of period 0. The annuity factor with an interest rate of 5% and two payments is given by

2,875.60976

consider the following 2019, ...

2019 toyota highlander: you SPEND 1,250 more2019 Toyota highlander hybrid AWD LE plus: you save 500 in fuel costs2019 toyota comry: you spend 2502019 toyota prius: you save 3,250

With a 5% annual rate of discount, $220.5 two years from now is worth what amount one year from now?

210

How many Newtons of force do you need to hold a 48 pound bushel of barley. Assume 2.2046 lb/kg. Note that g = standard acceleration of gravity =

213.5168

How many Newtons of force do you need to hold a 56 pound bushel of grain sorghum. Assume 2.2046 lb/kg. Note that g = standard acceleration of gravity =

229.1029665

With a 4% annual rate of discount, $20,800 one year from now is worth what amount four years from now?

23,397.1712

How many Newtons of force do you need to hold a 56 pound bushel of corn. Assume 2.2046 lb/kg. Note that g = standard acceleration of gravity =

249.103

Energy provides about how many servants for each of us?

250

Consider a piece of equipment for which the expenditure at the beginning of period 1 is $40,000. Given that this is a cost, consider it as a negative in a net revenue framework. The net revenue at the end of year 1 is $15,000. The net revenue at the end of year 2 is $20,000. The net revenue at the end of year 3 is $21,000. The net revenue at the end of year 4 is $25,000. This includes revenue from operations and sale of the used equipment. The interest rate is 6%.

29,385.21872

What is the amount of work done by the applied force when a 10 kg object is lifted 3 meters at constant speed? Note that g = standard acceleration of gravity = =9.80665 𝑚𝑠2=9.80665 ms2=9.80665 𝑚𝑠2=9.80665 ms2. There are 3.28084 feet in a meter, 0.2248 pounds in a newton and 0.73756 𝑓𝑡−𝑙𝑏𝑓ft−lbf𝑓𝑡−𝑙𝑏𝑓ft−lbf in a newton meter.

294.2 Newton meters 294.2 Joules

Consider a piece of equipment for which the expenditure at the beginning of period 1 is $20,000. Given that this is a cost, consider it as a negative in a net revenue framework. The net revenue at the end of year 1 is $5,000. The net revenue at the end of year 2 is $7,000. The net revenue at the end of year 3 is $10,000. The net revenue at the end of year 4 is $15,000. This includes revenue from operations and sale of the used equipment. The interest rate is 4%. What is the levelized net revenue with four equal payments at the end of years 1 to 4 if the annuity factor is given by

3,079.05985

Consider a piece of equipment for which the expenditure at the beginning of period 1 is $15,000. Given that this is a cost, consider it as a negative in a net revenue framework. The net revenue at the end of year 1 is $2,000. The net revenue at the end of year 2 is $4,000. The net revenue at the end of year 3 is $6,000. The net revenue at the end of year 4 is $10,000. This includes revenue from operations and sale of the used equipment. The interest rate is 5%.

3,942.93016

With a 4% annual rate of discount, $26,000 one year from now is worth what amount five years from now?

30,416.3226

30,749.45069

Consider a piece of equipment for which the expenditure at the beginning of period 1 is $35,000. The net revenue at the end of year 1 is $18,000.00 The net revenue at the end of year 2 is $25,000.00 The net revenue at the end of year 3 is $27,000. The interest rate is 3%. What is the net present value of this investment over the three year period including the initial purchase of the asset and the revenue from the first three years of operation?

30,749.4507

Consider a piece of equipment for which the expenditure at the beginning of period 1 is $50,000 The net cost at the end of year 1 is $10,000. The net cost at the end of year 2 is $15,000. The net cost at the end of year 3 is $20,000. What is the levelized net cost with three equal payments at the end of years 1 to 3 with an interest rate of 3%? The annuity factor with a 3% nominal discount rate and three payments is given by

31,578.0032

With a 3% annual rate of discount, $34,778.2222 five years from now is worth what amount two years from now?

31,827

What is the amount of work done by the applied force when a 8 kg object is lifted 4 meters at constant speed? The answer will be in joules. Note that g = standard acceleration of gravity =

313.8128

What is the amount of work done by the applied force when a 16 pound object is lifted 2 feet constant speed? Note that g = standard acceleration of gravity = . There are 4.4482 Newtons per pound. There are 3.28084 feet in a meter.

32 ft-lbf , 43.386 Newton meters

Consider an asset which has no initial cost but for which there is an expenditure of $20,000 at the end of the first year. The net cost at the end of year 2 is $15,000. With an interest rate of 3.5%, what is the net present value of this cost stream at the beginning of period 1 (which is the same as the end of period 0)?

32,326.332

How many watts are expended by a person who weighs 120 pounds climbing a 12 foot high ladder in 6 seconds? The answer should be in watts. Note that g = standard acceleration of gravity = . There are 3.28084 feet in a meter, 0.2248 pounds in a newton and 0.73756 in a newton meter or Joule.

325.39

Consider an asset that you purchase for $46,000. It's nominal resale value after five years of ownership is $16,000. At that time you plan to sell it and move to a retirement community in Burley, ID. What is the net present cost to you of holding this asset if the nominal discount rate is 5%?

33,200

How many watts are expended by a roofer with a mass of 90 kilograms climbing a ladder 5 meters high in 13 seconds? The answer should be in watts. Note that g = standard acceleration of gravity =

339.46

34,986.5436

The average rate of incoming energy from sun is

340 w a t t s m 2

How many watts are expended by a roofer with a mass of 80 kilograms climbing a ladder 5 meters high in 11 seconds? The answer should be in watts. Note that g = standard acceleration of gravity =

356.61

How many watts are expended by a person with a mass of 80 kilograms climbing 3 meter high ladder in 6 seconds? The answer should be in watts. Note that g = standard acceleration of gravity = 9.80665 m s 2

382.266

Consider a piece of equipment for which the expenditure at the beginning of period 1 is $25,000. The net cost at the end of year 1 is $4,000. The net cost at the end of year 2 is $6,000. The net cost at the end of year 3 is $8,000. The net cost at the end of year 4 is $2,000. With an interest rate of 5%, what is the net present value of this cost stream at the beginning of period 1 (which is the same as the end of period 0)

42,807.80642

What is the amount of work done by the applied force when a 11 kg object is lifted 4 meters at constant speed? Note that g = standard acceleration of gravity . There are 3.28084 feet in a meter, 0.2248 pounds in a newton and 0.73756 in a newton meter.

431.49 Newton meters 431.49 Joules

How many watts are expended by a diver with a mass of 65 kilograms climbing the ladder on the diving platform 10 meters high in 14 seconds? The answer should be in watts. Note that g = standard acceleration of gravity =

455.3

With a 5% annual rate of discount, $60 three years from now is worth what amount two years ago?

47.012

What is the amount of work done by the applied force when a 12 kg object is lifted 4 meters at constant speed? The answer will be in joules. Note that g = standard acceleration of gravity = 9.80665 m s 2. Also note that there are 3.28084 feet in a meter, 2.2046 lbs in a kilogram, and 0.73756 ft-lbf in a Joule.

470.7192

What is the amount of work done by the applied force when a 12 kg object is lifted 4 meters at constant speed? Note that g = standard acceleration of gravity = . There are 3.28084 feet in a meter, 0.2248 pounds in a newton and 0.73756 f t − l b f in a newton meter.

470.7192 Newton meters = 470.7192 Joules

Consider a piece of equipment for which the expenditure at the beginning of period 1 is $30,000 The net cost at the end of year 1 is $5,000. The net cost at the end of year 2 is $7,000. The net cost at the end of year 3 is $8,000. What is the net present cost of this asset if the nominal rate of discount is 4%?

48,391.55667

With a 8% annual rate of discount, $4,320 one year from now is worth what amount three years from now?

5,038.848

With a 6% annual rate of discount, $5,955.08 three years from now is worth what amount one year from now?

5,300

A power plant with a name plate capacity of 800 megawatts (MW) and a capacity factor of 0.8 is expected to produce 5.6064 × kWh/yr of electricity. How much electricity (kWh/yr) would be produced by a power plant with name plate of 800 megawatts (MW) and a capacity factor of 0.9.

5,310,000,000

Consider a piece of equipment for which the expenditure at the beginning of period 1 is $40,000. Given that this is a cost, consider it as a negative in a net revenue framework. The net revenue at the end of year 1 is $10,000. The net revenue at the end of year 2 is $16,000. The net revenue at the end of year 3 is $18,000. The net revenue at the end of year 4 is $24,000. This includes revenue from operations and sale of the used equipment. The interest rate is 3%. What is the levelized net revenue with four equal payments at the end of years 1 to 4 if the annuity factor is given by ( 1 − 1 ( 1 + i ) η i ) = ( 1 − 1 ( 1.03 ) 4 .03 ) = 3.717

5,576.38

With a 6% annual rate of discount, $6,312.3848 four years from now is worth what amount two periods from now?

5,618

Consider an asset that you purchase for $60,000 today. Its nominal resale value after five years of ownership is $10,000. At that time you plan to sell it and move to a retirement community in St. George, Utah. What is the net present cost to you of holding this asset if the nominal discount rate is 4%?

51,780.73

Consider an asset that you purchase for $70,000. Its nominal resale value after three years of ownership is $20,000. At that time you plan to sell it and move to a retirement community in Marion, Ia. What is the net present cost to you of holding this asset if the nominal discount rate is 5%?

52,723.25

Suppose I have computed the cost of carbon per mile for my car at 0.01 per mile. Assume that the interest rate is 4% and that I drive the car 15,000 miles per year. What is present value of the carbon expense for four years? You will need to use the PV function in Excel or a financial calculator. In Excel the present value of a stream of monetary cash flows is given by -PV(rate,number of payments,payment amount) where rate is the interest rate. We enter the payment in Excel as a positive number.

544.4843

Suppose I have computed the cost of carbon per mile for my car at 0.01 per mile. Assume that the interest rate is 5% and that I drive the car 20,000 miles per year. What is present value of the carbon expense for three years? You will need to use the PV function in Excel or a financial calculator. In Excel the present value of a stream of monetary cash flows is given by -PV(rate, number of payments, payment amount) where rate is the interest rate. We enter the payment in Excel as a positive number. You can also compute the carbon cost per year and then discount those three values back to the present.

544.65

How many watts are expended by a person with a mass of 70 kilograms climbing 4 meter high ladder in 5 seconds? Assume 2.2046 lb/kg. Note that g = standard acceleration of gravity =

549.17 Watts

Consider an asset that you purchase for $75,000. It's nomimal resale value after four years of ownnership is $20,000. At that time you plan to sell it and retire to southern Missourri. What is the net present cost to you of holding this asset if the nominal discount rate is 5%?

58,545.95

Consider a piece of equipment for which the expenditure at the beginning of period 1 is $80,000. Given that this is a cost, consider it as a negative in a net revenue framework. The net revenue at the end of year 1 is $10,000. The net revenue at the end of year 2 is $20,000. The net revenue at the end of year 3 is $30,000. The net revenue at the end of year 4 is $40,000. This includes revenue from operations and sale of the used equipment. The interest rate is 5%.

6,487.62

Consider an asset which has no initial cost but for which there is an expenditure of $3,000 at the end of the first year. The net cost at the end of year 2 is $5,000. With an interest rate of 10%, what is the net present value of this cost stream at the beginning of period 1 (which is the same as the end of period 0)?

6,559.50413

Consider an asset which has no initial cost but for which there is an expenditure of $5,000 at the end of the first year. The net cost at the end of year 2 is $9,000. With an interest rate of 7%, what is a levelized cost payment payable at the end of years 1 and 2, which has the same present value as the actual cost stream at the end of period 0. The annuity factor with an interest rate of 7% and two payments is given by

6,632.36715

Consider an asset that you purchase for $90,000. It's nominal resale value after five years of ownership is $30,000. At that time you plan to sell it and retire to Boise, Idaho. What is the net present cost of holding this asset for the five years if the nominal discount rate is 4%?

65,342.19

How many Newtons of force do you need to hold a 15 pound bowling ball? Assume 2.2046 lb/kg. Note that g = standard acceleration of gravity =

66.72 Newtons

Consider an asset that you purchase for $45,000 today. Its nominal resale value after five years of ownership is $12,000. At that time you plan to sell it and move to a retirement community in Pine Bluffs, Arkansas. The nominal discount rate is 4%. What is the annuity payment occurring at the end of years 1, 2, 3, 4, and 5 that has the same net present value as net present cost if the annuity factor is given by

7,892.69

Suppose I have computed the cost of carbon per mile for my car at 0.012 per mile. Assume that the interest rate is 4% and that I drive the car 22,000 miles per year. What is present value of the carbon expense for three years? You will need to use the PV function in Excel or a financial calculator. In Excel the present value of a stream of monetary cash flows is given by -PV(rate,number of payments,payment amount) where rate is the interest rate. We enter the payment in Excel as a positive number. You can also compute the carbon costs at the end of each year and then discount those three values back to the present.

732.62

Consider a piece of equipment for which the expenditure at the beginning of period 1 is $40,000 The net cost at the end of year 1 is $8,000. The net cost at the end of year 2 is $10,000. The net cost at the end of year 3 is $16,000. The net cost at the end of year 4 is $7,000. With an interest rate of 5%, what is the net present value of this cost stream at the begining of period 1 (which is the same as the end of period 0)?

76,269.66

With a 5% annual rate of discount, $9,261 three years from now is worth what amount today?

8,000

Consider an asset which has no initial cost but for which there is an expenditure of $7,500 at the end of the first year. The net cost at the end of year 2 is $10,000. With an interest rate of 2%, what is a levelized cost payment payable at the end of years 1 and 2, which has the same present value as the actual cost stream at the end of period 0. The annuity factor with an interest rate of 2% and two payments is given by ( 1 − 1 ( 1 + i ) η i ) = ( 1 − 1 ( 1.02 ) 2 .02 ) = 1.942

8,437.6237

Suppose it takes 800 N of force to keep a person from falling to the earth. What is the mass of this person in kilograms? Note that g = standard acceleration of gravity

81.577

Suppose it takes 850 N of force to keep a person from falling to the earth. What is the mass of this person in kilograms? Note that g = standard acceleration of gravity =

81.6758781031

President Trump's carbon footprint is 75 tons per year. He can buy carbon offsets from a company called terrapass (They also make Climate Change Chocolate) for $11.00 per ton. How much will it cost him per year to be a carbon neutral consumer?

825

Suppose it takes 860 N of force to keep a person from falling to the earth. What is the mass of this person in kilograms? Note that g = standard acceleration of gravity = = 9.80665 m s 2

87.69

Consider a piece of equipment for which the expenditure at the beginning of period 1 is $50,000. The cost at the end of year 1 is $8,000. The cost at the end of year 2 is $10,000 The cost at the end of year 3 is $12,000 The cost at the end of year 4 is $15,000. The interest rate is 6%. What is the net present cost of purchasing and operating this asset for four years?

88,403.97056

Consider a piece of equipment for which the expenditure at the beginning of period 1 is $80,000. The net cost at the end of year 1 is $5,000. The net cost at the end of year 2 is $6,000. The net cost at the end of year 3 is $8,000. The net revenue at the end of year 4 is $10,000. This includes revenue from operations and sale of the used equipment. The interest rate is 3%. What is the net present value of this net cost stream?

88,946.2072

Consider a piece of equipment for which the expenditure at the beginning of period 1 is $20,000. The net cost at the end of year 1 is $5,000. The net cost at the end of year 2 is $6,000. The net cost at the end of year 3 is $7,000. The net cost at the end of year 4 is $1,000. The interest rate is 4%. What is the levelized cost of four equal payments at the end of years 1 to 4 if the annuity factor is given by

9,512.36605

Suppose I have computed the cost of carbon per mile for my car at 0.01 per mile. Assume that the interest rate is 3% and that I drive the car 25,000 miles per year. What is the present value of the carbon expense for four years? You will need to use the PV function in Excel or a financial calculator. In Excel the present value of a stream of monetary cash flows is given by -PV(rate,number of payments,payment amount) where rate is the interest rate. We enter the payment in Excel as a positive number.

929.2746

Suppose I have computed the cost of carbon per mile for my car at 0.009 per mile. Assume that the interest rate is 3% and that I drive the car 28,000 miles per year. Assume the new car has zero (0) miles on it and that you compute the carbon expense at the end of each year. What is the present value of the carbon expense for four years? You will need to use the PV function in Excel or a financial calculator. In Excel the present value of a stream of monetary cash flows is given by -PV(rate, number of payments, payment amount) where rate is the interest rate. We enter the payment in Excel as a positive number. You can also compute the carbon costs at the end of each year and then discount those four values back to the present.

936.7088

What are the three main objectives of the mental model or framework we will use in this class to evaluate sustainability options.

Adaptable or resilient Improve the human condition Just

Which of the following has the highest grams of CO2e/Ton-Mile?

Air

Resource base

All of a mineral commodity that is in earth's crust

Energy

An amount of work, heat, or light for example

Bad

An object whose consumption decreases the well-being or utility of an individual

Why does cap and trade give everyone an incentive to reduce pollution?

Because sellers can unload more licenses if they can cut back on their emissions. Because buyers would not have to acquire as many licenses if they can cut back on their emissions.

Externality

Bird deaths due to wind turbines

Externality

Bird kill by the Ivanpah Generating Station, for example

Complements

Bolts and nuts,Wheels and tires,Right and left shoes,Backhoes and backhoe operators,

Non-rival good

Can be used or consumed by one person without reducing the amount left for others. In other words, it can be used again and again at almost no additional cost

Which country in the world produced the most cars in 2018?

China

The two carbon offset markets are the

Compliance market Voluntary market

The use of a park such as Yellowstone or Arches may or may not be a rival good depending on the level of [con].

Congestion

Which factors may affect whether the use of a public area such as Backbone State Park or Central Campus may or may not be a rival good?

Congestion, The number of people showing up to use it in a given period

What are negative externalities?

Costs that economic actors impose on others without paying a price for their actions

Protect intellectual property and brandnames

Create incentives to innovate, reduce harmful subsidies.

Create market based environmental programs

Create incentives to innovate...

Significantly reduce water and power subsidies

Create incentives to innovate...

Regulation

Design Standards, Production quota, Effluent permits

place

Different usage rates on U-haul trucks depending on origin and destination of rental

Which of the following relate most prominently to intragenerational justice?

Disproportionate distribution of benefits to the wealthy and powerful at the expense of the poor and weak Sacrifice of the fundamental needs of some for the sake of less central interests or mere 'wants' of others Exploitative social arrangements

Conditional Automation

Driver is a necessity, but is not required to monitor the environment. The driver must be ready to take control of the vehicle at all times.

What are the three elements of the Triple Top line?

Economy Ecology Equity

What did Ted Schultz think was necessary to improve the human condition of poor but efficient farmers?

Education and/or access to resources and technology

Electricity, roads, parking, and vehicles

Electronically managed, dynamically priced markets

Motivate sustainable activity patterns within cities

Electronically managed, dynamically priced markets

Provide price signals and incentives that regulate supply and demand

Electronically managed, dynamically priced markets

Ubiquitous metering and sensing

Electronically managed, dynamically priced markets

Chemical potential energy

Energy stored in chemical bonds

economic prosperity

Equitable economic growth Rising per-capita income Low inflation and low unemployment

A competitive equilibrium is Pareto optimal but a Pareto optimal allocation is not efficient because competitive markets may lead to economic inequality.

False

A market failure occurs when the supply of a product falls rapidly due to a natural disaster.

False

A paradigm is a set of practices that define a discipline, community of thought, or approach to problem solving over multiple time periods and geographic locations.

False

A sustaining innovation helps create a new markets and value networks.

False

Additive manufacturing consists of adding irregularly shaped objects of various sizes and shapes to an initial product.

False

Agriculture is one of the major sources of greenhouse gases in the United States.

False

Atmospheric carbon dioxide levels have remained relatively constant over the last 200 years.

False

Automobile transportation has dramatically enhanced our personal mobility and helped us realize our aspirations for growth and prosperity, These freedom and prosperity benefits have been substantial, including greater access to jobs, goods, and services, convenient and safer personal travel, and the ability to go where we want,when we want, while carrying the things that we need. It is clear that these benefits far outweigh side effects such as environmental damage, use of natural resources, traffic deaths and congestion in cities.

False

Batteries on fully electric vehicles will usually need to be replaced after about five years.

False

Conflict materials are often mined using workers who are paid less than a living wage, though actual slave labor has almost disappeared.

False

Drought forecasts based on scenarios from the Intergovernmental Panel on Climate Change (IPCC) show a much higher incidence of drought in the Southwest United States but little increase if drought in the Central Plains.

False

Economic theory usually assumes that an individual has a negative rate of time preference, meaning that one dollar tomorrow is preferred over one dollar today.

False

Batch production

a small quantity....

Forecasts from the Intergovernmental Panel on Climate Change (IPCC) show relatively larger changes in temperature in the southern United States and Mexico as compared to northern parts of Canada.

False

If households and firms act perfectly competitively (i.e. as price takers) and most goods and services are traded in markets at publicly known prices then the market outcome is Pareto optimal in the sense that inequality is reduced relative to any planning solution.

False

If households and firms act perfectly competitively (i.e. as price takers) and most goods and services are traded in markets at publicly known prices then the market outcome is Pareto optimal, i.e., no one can be made better off without making someone else worse off.

False

If production of a product creates a positive externality, the social cost of production is generally higher than the private cost.

False

Increases in temperature will lead to decreases in the acidity of the ocean.

False

It is clear that villages included in the Millennium Villages Project (MVP) are much better off than they would have been if they had not been included in the project.

False

It is well documented historically that there is a correlation between the sun's output and the Earth's temperature. In the last 15 years energy from the sun has been up, which might explain the recent rise in the Earth's temperature.

False

It would be fairly easy to regulate access and therefore exclude users of the Ogallala aquifer.

False

Lock-in is defined as the ability of a producer, a consumer or society to move from one solution/state to another without extremely large transition costs.

False

Negative externalities are present when a portion of the costs of an economic transaction are imposed on others outside of that transaction without their consent. An example would be when neighbors get together to host a block party and pool their resources to cover refreshments and a band and everyone opts in. And the neighborhood is secluded and not near any other homes.

False

Over the past 30 years the United States has developed a clear and effective energy policies to reduce "America's century-long addiction to fossil fuels."

False

Robert Solow said the following ``If you don't eat one species of fish, you can eat another species of fish. Resources are, to use a favourite word of economists, fungible in a certain sense. They can take the place of each other. That is extremely important because it suggests that we do not owe to the future any particular thing. There is no specific object that the goal of sustainability, the obligation of sustainability, requires us to leave untouched. This statement is more or less consistent with strong environmental sustainability.

False

Steven Chu, who served as the Secretary of Energy from January 21, 2009, to April 22, 2013, said ``The stone age ended because we ran out of quality stones''.

False

Strong Environmental Sustainability is maintaining total capital intact without regard to the partitioning of that capital among the four kinds (Natural, Human, Human-made, Social). This would imply that the various kinds of capital are more or less substitutes, at least within the boundaries of current levels of economic activity and resource endowment.

False

Surveys reveal little regional variation in ethical rules of the road for autonomous vehicles.

False

The Corporate Average Fuel Economy (CAFE) standards were first adopted in the 1980's after the Arab Oil Embargo which drove up gasoline prices.

False

The Reclamation Reform Act of 1902 limited people on Reclamation projects to 160 acres, required residence on the property, and use of at least half of the land for agriculture, while the Reclamation Reform Act of 1982 raised the acreage limitation to 640 acres and ended the residency requirement for farmers.

False

The Second Principle of Justice says that social and economic inequalities are to be arranged so that a) they are to be of the greatest benefit to the most-advantaged members of society, consistent with the just savings principle, and b) offices and positions must be distributed on a random basis so that everyone has an equal change of receiving them

False

The first principle of justice, according to Rawls is that each person should to have an equal right to the most extensive total system of equal basic liberties and commodities.

False

The opportunity cost of moving firefighters from the Bald Mountain fire to the Pole Creek fire is the sum of all the cost of moving the crew and equipment from one fire fighting area to the other.

False

Water vapor, carbon dioxide, methane, and other trace gases are transparent to many wavelengths of thermal infrared energy.

False

We usually say that "solutions'' in sustainable economic systems must have a rate of return (either from profits or some other other source) that is at least 10% higher than the "market rate of return'' so that firms will have an incentive to enter the market.

False

Worldwide in 2018, coal provided the most energy, followed by natural gas, and then petroleum.

False

`Taking one for the team'' under the orders of the boss is fully consistent with the deontological approach to ethics. You Answered

False

Permit drivers to share information and remain seamlessly connected to theirpersonal, social, and business networks

Mobility Internet

Which of the following statements are true?

Most coal goes to electricity production while most petroleum goes to transportation.

Public finance

Fighting extreme poverty, Direct support for some scientific research, Social insurance

What are the four ways by which we typically differentiate products? We sometimes refer to these as economic utilities.

Form Place Time Possession

Common property resource

Goods or services which are rival but non-excludable

Rival goods

Goods whose consumption by one consumer prevents simultaneous consumption by other consumers

Substitutes

Gravity and drip irrigation,Buses and light rail Beef and pork as protein sources in a human diet Hydro and solar as sources for producing electricity Gasoline and propane as automotive fuel, A backhoe with an operator and a shovel and a worker, Beef and lentils as protein in a diet Coal and wind as energy sources to produce electricity

Dr. Hallam's 17 year old truck has a footprint of 10,000 pounds per year. Terrapass sells carbon outsets for $6 per 1,000 lbs. This means he can have a clear carbon conscience (at least as far as his car) for $60 a year. He is considering trading in his truck (just kidding) and buying either a hybrid or an electric car such as the Chevrolet Bolt or a Tesla Model S. Having rejected the fully electric cars, he wonders about whether to buy a Toyota Highlander 4WD or the Toyota Highlander Hybrid 4WD. The carbon footprint of the standard Highlander is about 12,000 pounds per year while that of the hybrid is 8,000 pounds per year......

He should look at the projected trade-in value of the two vehicles in four years, discount that back to the present time, and then subtract that from the purchase price to get a net asset cost. Assuming that maintenance and repair costs will be the same he should find the present value of the projected fuel costs for the two vehicles over the four year period. Assuming that the price of carbon offsets does not change over the four year period he should find the net present value of ($72, $72, $72, $72) for the standard Highlander and ($48,$48,$48,$48) for the hybrid Highlander. He should then add together the net asset cost, the present value of projected fuel cost, and the present value of projected carbon offset cost for each vehicle and choose the one with lowest cost.

Natural gas

Natural monopoly....

Which of the following statements are true.

If I were a utilitarian and gave equal weighting to all people born between 1950 and 2150, I would likely promote policies significantly reducing greenhouse gases below their current levels. •If all individuals in common property situations were to follow the maxim ``Act only such that you could will the maxim on which you act as a universal law'', the commons problem would likely go away. •If only the welfare of people currently living on the earth were included in the utilitarian calculus, more investment would likely go to poverty reduction in the third world than to green subsidies in the OECD countries. •Rawl's theory of justice would argue that one is not allowed to justify differences in income or organizational powers on the ground that the disadvantages of those in one position are outweighed by the greater advantages of those in another.

Non-excludable good

Impossible or extremely costly to exclude nonpayers from consumption

Which of the following are Millenium Development Goals? You Answered

Improve maternal health, Reduce child mortality, Combat HIV/AIDS, malaria and other diseases

New DNA

Intelligent and interconnected,Energized by electricity and hydrogen,Electrically driven,Electronically controlled,Powered by electric motors

good governance

Internalizing the externalities Transparency

Excludable good

It is possible to prevent people who have not paid for them from enjoying the benefits.

Because of the executive order that President Trump signed to reverse climate change policies put in place by President Obama, (including the Clean Power Plan), most regulations adopted in the last year of the Obama administration will probably become null and void unless reinstated by the courts or a different administration reimplements them.

True

Lidar stands for

Light detection and ranging

In 2050, projected energy consumption in the United States has the following order in terms of largest consumption to smallest

Liquid fuels, natural gas, other renewables

Physical capital

Manufactured means of production

Joint outputs

Meat for eating and hide for making shoes

Current DNA

Mechanically driven, Powered by internal combustion engine,Energized by petroleum,Mechanically controlled,Stand alone operation

Fixed O&M

Operations and maintenance cost required regardless of the amount of power produced

Variable O&M

Operations and maintenance costs that are related to the amount of power produced

Which of the following are examples of common pool resources?

Orange Roughy Fisheries, Ledges State Park, Ogalalla Aquifer

Which of the following are NOT ways to NOT run out of energy.

Pass a United Nations Resolution banning the use of some non-renewable resources. Mandate the use of public transportation in large U.S. cities.

social inclusion and cohesion

People are connected by durable relations that extend beyond immediate genealogical ties Commonly shared values, rules, and information

fundamental equality

People should be treated as equals by their government and their legal system: no special privileges, just an entitlement to respect and consideration as human beings.

Which of the following are assumptions of perfect competition.

Perfect information No externalities Firms have freedom of entry and exit Homogeneous goods Buyers and sellers are price takers No transaction costs

In 2018, energy usage in the world had the following order in terms of largest consumption to smallest

Petroluem, coal, natural gas

In 2018, energy consumption in the United States had the following order in terms of source from largest consumption to smallest

Petroluem, natural gas, coal

Which of the following relate most prominently to intergenerational justice?

Present obligations that are based on the (future) rights of future persons Obligations to future generations

Which of the following conditions are necessary and sufficient for competitive equilibrium?

Profit maximization, utility maximization, and market clearing

Market failure

Public goods, Externalitites, Natural monopoly, Information asymmetries/uncertainty

possession

Purchase of a building lot within the private unit development (PUD) Ownership of land that provides shares in an irrigation company

Reserves

Quantity of a mineral commodity that is both known and profitable to exploit

Expendable factors of production

Raw materials or other items that are completely used up or consumed during a single production period

environmental sustainability

Reduced production of greenhouse gases Water conservation

The opportunity cost of President Trump proposing to reduce the land set aside in Utah for the Bears Ears National Monument in order to promote more revenue from use of the land for mineral development, grazing, four-wheeling and so on, is the decline in the space that is available for wilderness, solitude, indigenous hunting and so forth.

Right

Consider the numerous individuals and groups who would like to have access to Yosemite National Park for a variety of activities. Which of the following are reasonable approaches to prevent damage/overuse and are also fair and just?

Set up up a quota system where entrance passes are allocated using a lottery.

Consider the numerous individuals and groups who would like to have access to the Grand Canyon for a variety of activities. Which of the following are reasonable approaches to prevent damage/overuse and are also fair and just?

Set up up a quota system where entrance passes are allocated using a lottery. Require that all travel in the park be by foot or bicycle except for those who are physically challenged. For these individuals provide minimal cost transportation using solar powered fat tire golf carts.

Transmission Cost

The cost of electrical energy transmission from the power generation station to the end user.

Chevrolet, Nissan, Tesla, Toyota, and Ford offered electric cars in 2019.

True

Electric-drive vehicles

Smart, Clean, Energy

Energy-efficient buildings

Smart, Clean, Energy

Optimal mix of batteries and hydrogen fuel cells to facilitate bothstationary and vehicle uses of electricity

Smart, Clean, Energy

Smart utility grids to create distributed, responsive energy systems

Smart, Clean, Energy

Utilization of diverse and renewable (but intermittent) sources ofelectricity

Smart, Clean, Energy

Carbon offset

Stanford University wants to maintain its place with the highest score in the Sustainability Tracking, Assessment & Rating System (STARS) and so.....

time

Storage of corn from harvest until later in the season when prices are higher

The following are examples of pure public goods

Street lights, Police protection, The air we breathe Public roads Public parks

Which of the following are ``market'' solutions to market failure?

Subsidies to or outright purchases or sales of products in markets where there are market failure. Tradable permits Taxes or fines such as effluent or pollution charges Carbon offsets

In the Washington State ballot initiative I-1631 would charge large emitters for the carbon emissions they release. In turn, the policy would send a signal to the market to spur innovation and investments in lower-carbon, less polluting alternatives.....

Taxes / Subsidies

Capacity Factor

The % of the electrical energy that was actually produced relative to the amount that could have been produced.

Availability

The % of the time the power plant is available

Which of the following are examples of common pool resources?

The High Trestle trail which runs from Woodward to Ankeny Iowa, I-35 between Ankeny and West Des Moines between 15:30 and 18:00. The Mississippi River

Which of the following are examples of common pool resources?

The ISU cross country course south of campus Hiking trials at Ledges State Part Squaw Creek near ISU campus Ogallala Aquifer

Suppose I want to design a hybrid car that weighs less than 3,000 pounds, gets 60 mpg and can be produced for less than $15,000. What is an appropriate constraint set?

The car must weigh less than 3,000 pounds, achieve at least sixty miles per gallon and have a production cost less than $15,000.

Capital services

The flow of productive services that can be obtained from a given capital stock during a production period

Which of the following are good examples of market failures.

The market for rural fire services in states where pay to spray contracts are illegal Climate change Oil sales and consumption Open access logging The market for organic carrots with complete information

Rated Capacity

The maximum amount of electrical power (W, kW or MW) that a power system can produce

Downcycling

The process of converting waste materials or useless products into new materials or products of lesser quality and reduced utility.

Consider the following graph which appeared in a series of articles in the Wall Street Journal in 2012.Which of the following is the interpretation of the group of 16 scientists who originally wrote that there is ``No Need to Panic About Global Warming"?

The projections exaggerate, substantially, the response of the earth's temperature to C O 2 which increased by about 11% from 1989 through 2011.

Power

The rate at which energy is produced or consumed

Clean energy innovation means more R&D, but also more transfer, testing, demonstration, and deployment.

True

Investment Cost

The total cost to construct a power plant

Classical value

The value of a thing in any given time and place, is the largestamount of exertion that anyone will render in exchange for it.

Full Automation

The vehicle is capable of performing all driving functions under all conditions. The drive may have the option to control the vehicle.

High Automation

The vehicle is capable of performing all driving functions under certain conditions. The drive may have the option to control the vehicle.

Which of the following are complex adaptive systems?

Traffic Power grids in the United States Twitter Helser Hall at Iowa State University

The moral machine experiments are similar to a famous set of ethical questions know as the

Trolley Problem

A Pigouvian tax is a tax applied to a market activity that is generating negative externalities (costs for someone other than the person on whom the tax is imposed).

True

A carbon offset is a reduction in emissions of carbon dioxide or greenhouse gases made in order to compensate for or to offset an emission made elsewhere.

True

A market failure occurs when a competitive market fails to bring about an efficient allocation of resources.

True

A social-ecological system may have multiple stable states.

True

According to John Rawls, laws and institutions no matter how efficient and well-arranged must be reformed or abolished if they are unjust.

True

Agriculture is a relatively higher contributor to greenhouse gas emissions in other parts of the world relative to the United States.

True

An auction of permits for water use or the right to pollute will generally be efficient in allocating resources but may not be equitable if some bidders (rich, well connected) are able to buy permits in quantities that are not optimal for society because of wealth or power or other factors.

True

An example of a Pigovian tax is an effluent fee.

True

Another name for additive manufacturing is 3D printing.

True

Approximately 1.35 million people die each year as a result of road traffic crashes.

True

Automated vehicle technologies that are carefully integrated into motor vehicles could help vehicle operators detect and avoid bicyclists, motorcyclists, pedestrians, and othervulnerable users on our roadways, and increase safety across the surface transportation system.

True

Based on our understanding of climate and data, most scientists conclude that the climate has warmed and human activity is the likely cause.

True

Batteries are charged directly using electricity, whereas fuel cells produce electricity when fed with hydrogen fuel (providing a "refillable" battery, in other words).

True

Jeffrey Sachs has vehemently argued that extreme poverty in rural Africa (and elsewhere) is not attributable to corruption or other aspects of flawed governance, but to a lack of sufficient funds.

True

John Rawls has argued that meeting citizens' basic needs may be lexically prior to an adequate scheme of equal basic rights and liberties.

True

MIT engineers have moved on from the CityCar to something called the PEV --- the Persuasive Electric Vehicle. It eliminates the folding feature of the CityCar but is autonomous and parks itself or drops people off and then goes and delivers packages until it is summoned to pick someone up.

True

Many states and communities have attempted to reduce the second hand smoke market failure by passing no smoking laws.

True

Materials may become ``More Critical'' with the formation of a cartel or changes in environmental regulations.

True

Michael Braungart and William McDonough, who wrote the book, "Cradle to Cradle" have said that ``Relying on ecoefficiency to save the environment will in fact achieve the opposite---it will let industry finish off everything quietly, persistently and completely.''

True

Most economists argue that a carbon tax offers the most cost-effective lever to reduce carbon emissions at the scale and speed thatis necessary.

True

Nature --- highly industrious, astonishingly productive and creative, even `wasteful', is NOT necessarily efficient but is highly effective.

True

Negative externalities are present when a portion of the costs of an economic transaction are imposed on others outside of that transaction without their consent. An example would be having a very loud house party on a Thursday night in a residential neighborhood.

True

Nobel Prize winning economist Edmund Phelps has argued that ``that the great productivity slowdown was really caused by a major loss of people stillkeen on devising new commercial products and methods, and not by the Great Society. Certainly, it is implausible that those helped by the Great Society are to blame. In any case, there do not appear to be any econometric studies showing that countries that aid the disadvantaged more have less growth.''

True

Oil produced more energy than any other fossil fuel in the world in 2017.

True

One of the advantages of Rawl's approach to a social contract in discussing sustainability (the original position with a veil of ignorance) as compared to Hobbes is that it puts all people on an equal footing in the bargaining before they realize the time, place, and conditions (social position, intelligence, family resouces) of their sojourn on earth.

True

One of the advantages of additive manufacturing is low-volume, customized production.

True

One of the major goals the the Millenium Village Project was the diversification of farm and business income.

True

One way to get at the value of water is to create an active market in which the right to withdraw so many acre feet per year is auctioned off.

True

Public policy is a course of action or principle adopted or proposed by a governmental organization to achieve the objectives of its constituents

True

Robert Solow has said ``There is no reason for our society to feel guilty about using up aluminum as long as we leave behind a capacity to perform the same or analogous functions using other kinds of materials---plastics or other natural or artificial materials. This statement is more or less compatible with weak environmental sustainability.

True

Robert Solow, a Nobel Prize winner in economics has argued, "You could say that our ancestors, who were considerably poorer than we are, whose standard of living was considerably less than our own, were probably excessively generous in providing for us. They cut down a lot of trees, but they saved a lot and they built a lot of railroad rights-of-way."

True

Social capital requires maintenance and replenishment by shared values and equal rights, and by community, religious and cultural interactions.

True

Social costs include both the private costs and any other external costs to society arising from the production or consumption of a good or service.

True

Solar and wind generally have lower capacity factors than coal and natural gas.

True

Solar thermal electric energy generation concentrates the light from the sun to create heat, and that heat is used to run a heat engine, which turns a generator to make electricity.

True

Some car makers have supported the Trump administration proposal to remove the California Air Resources Board's (CARB's) waiver of the Clean Air Act preemption while others have said they will maintain the higher California standards

True

Some companies are pushing carpet leasing as an alternative to purchase as a means to more sustainable materials.

True

Successful village level interventions can help to reduce poverty, but progress is often slow.

True

Successful village level interventions may face limited markets or have limited market power.

True

Tesla Motors has said it will equip all of its new vehicles with technology that enables fully autonomous driving, but would not activate the system until it undergoes further testing.

True

The Dodd-Frank Act (passed in the U.S. in 2009) that included a requirement that all US electronics companies verify and disclose their sources of cassiterite [tin ore],wolframite [tungsten ore], and tantalum by 2014

True

The Trump administration made its debut at a United Nations conference on climate change on Monday 13 November 2017 by giving a full-throated defense of fossil fuels and nuclear energy as answers to driving down global greenhouse gas emissions.

True

The United States consumed nearly three times as much energy in 2018 as India.

True

The ``Google Algorithm'' in the Google car uses sensors about the immediate environment and data from Google maps to set an optimal route and then follow it efficiently and safely.

True

The algorithms that make decisions in automated vehicles use machine learning to find patterns in identification and decisions by actual humans in various environments and situations.

True

The first principle of justice, according to Rawls is that each person should to have an equal right to the most extensive total system of equal basic liberties compatible with a similar system of liberty for all.

True

The government can help create clean inexpensive energy both by providing consumption or production subsidies and/or by supporting innovation to create lower cost technologies.

True

The government might encourage the use of a renewable resource by providing a subsidy to those who produce or consume products using that resource, or by purchasing products manufactured using that resource in preference to those produced using non-renewable resources. An example would be Iowa State purchasing flex-fuel vehicles and then consistently using E-85. Or the state placing a lower per gallon tax on gasoline blended with ethanol.

True

The idea of the tyranny of small decisions is that though the individual impact of any one decision is almost negligible, when accumulated over a large number of individuals, the impact is large.

True

The opportunity cost of aid donations to buy solar panels for the poor in the developing world is the number of mosquito nets which could be purchased with the same donation.

True

The opportunity cost of land used to build a freeway is what that land might have been sold for at an auction where bidders included those wanting to use it for business, recreation, and residential development along with all other interested parties.

True

The opportunity cost of making the switch from coal to wind is the increase in cost per kilowatt hour minus the value per kilowatt hour of an improved environment with wind generation.

True

The purpose of just (real) savings is to establish just institutions in order to secure a social world that makes possible a worthwhile life for all its citizens.

True

The social cost of carbon (SCC) is an estimate, in dollars, of the economic damages that would result from emitting one additional ton of greenhouse gases into the atmosphere.

True

The travel cost method is most often used to measure the benefits of recreationalresources such as parks, rivers, or beaches, whether they be used for hiking,fishing, surfing, or just hanging out.

True

The value of having access to a telephone increases as more people have access to a telephone. This is called a positive network externality.

True

There are currently plans for a Red Sea to Dead Sea canal to raise the level of the Dead Sea

True

Two major justifications for the government to intervene in the economy are to 1) correct market failure and 2) to redistribute wealth or income.

True

Under a carbon offset program an electric utility in Pennsylvania might be allowed to continue to burn coal if they were to purchase rainforest land in Brazil and guarantee that it would not be harvested, or buy up the right to harvest the trees from that rainforest but then not exercise that right

True

Virtual Arrival (VA) is an operational emissions management measure that seeksto reduce a vessel's speed to meet a revised arrival time when there is a knowndelay at the discharge port.

True

We usually say that "solutions'' in sustainable economic systems must have a rate of return (either from profits or some other source) that is no less than the "market rate of return".

True

While coal production and consumption in the United States has fallen significantly in the last few years, most projections show that decline leveling off.

True

Wind generally has a lower Levelised Cost of Energy (LCOE) than solar.

True

Consumers

one device for all needs.....

Tradable permits

You buy the right to release more phosphate from swine production into the environment from a person who was allocated that right previously

Well defined property rights

You purchase the exclusive right (for 50 years) to graze 200 head of your cattle on land owned by the Federal Government which was prevsiouly open to a...

Macro-policies

affect groups of...

Petroleum

air pollution.....

Resources

all the mineral commodity whose location is known

One-off production

only one product is made at a time

Which of the following would directly help create a circular materials economy? (choose all answers that apply)

better design to extend product life better behavior: regulation, social adaptation, and lifestyle changes. better methods of extraction of materials

wind

birds

Central Computer

brain

Renewable resource

can replenish with...

Non-renewable resouce

cannot be reproduced grown....

Which of the following were effective for defining and enforcing property rights among cattlemen on the open range in Wyoming, Montana, and the Dakotas in the 1800's?

cattlemen's associations line camps

Primary energy

coal usage

DRSC-Based Receiver

communications device...

Club goods

direct tv....

Micro-policies

directly affect individual....

Recycle

discards are separated into materials.....

Isolated system

does not exchange either mass or energy with its surroundings

Primary electricity

electricity from nuclear, hydro.....

Secondary energy

electricity production

Reuse

elements of discarded items are used again

Be anti-trust, not anti-trade

encourage foreign trade...

Utilize skilled trade negotiators

encourage foreign trade...

Elastic potential energy

energy stored as a result of deformation of an elastic object

Gravitational energy

energy stored in an object's height

Electric potential energy

energy that results from conservative...

Fair and transparent legal system

especially for disadvantaged...

Improved educational system

especially important for rural people

The Coasean perspective does not define environmental problems in terms of externalities, but in terms of

establishing property rights, bargaining over them, and enforcing them ill-defined property rights

A major sustainability issue is that the world is running out of energy.

false

Corporate Average Fuel Economy Standards which specify miles per gallon targets for various types of vehicles are a good example of a Pigovian tax.

false

Much like the current debate about climate change, the hypothesis that "rain follows the plow'' was initially doubted by many but was eventually accepted as a sound scientific theory of climate.

false

Pure public goods

fire protection....

What problem occurs when those who benefit from resources, goods, or services do not pay for them, which results in either an under-provision of those goods or services, or in an overuse or degradation of a common property resource?

free rider

Match the type of power to its definition

gravitational energy: hydropowerelastic potential energy: an arrow drawn into a bowchemical potential energy: batterythermal energy: internal combustion engineelectric energy: fluorescent lightmechanical energy: aroldis chapman fastballradiant energy: sunshine

Firms

high profit rate....

Mixed category

housing developments

Mass production

hundrends of identical....

Windmills were first used for electric power generation

in the late 1800s.

Open system

interfaces and interacts with enviorment

Common-pool resources

irrigation systems...

coal

labor conditions..

An example of other produced (not physical) capital

legal rights

Society

low pollution levels....

Continuous flow production

many thousands of product are made. the production line is kept running

LIDAR

mesures distance by....

Enable vehicles to share enormous amounts of real-time, location-specific data

mobility internet

Private goods

pencils, sushi, eyeglasses....

Section 3 of the Taylor Grazing Act concerns grazing [p] issued on public lands within the grazing districts established under the Act.

permits

Conservation

preservation, protection, or restoration of the natural environment, natural ecosystems, vegetation, and wildlife.

Cameras

provide real time obstacle....

Hydro

public good nature....

Reserve base

quality of mineral commodity that meets.....

Radar

radio waves detect.....

Vigorously enforce anti-trust laws

remove entry barriers

Closed system

restricted interaction

The opportunity cost of President Obama setting aside land in Utah for the Bears Ears National Monument is the amount of revenue that is being forgone by less use of the land for mineral development, grazing, four-wheeling and so on.

right

The opportunity cost of land needed to build the Bakken pipeline might approximated by the fair market value of the land per acre, minus the net present value of the expected profits per acre in perpetuity (adjusted for any reduced yields from disturbing the soil by building the pipeline or expected maintenance in the future).

right

The opportunity cost throwing a soda pop can in the garbage is 5 cents minus the cost in terms of transportation and labor of taking it to the recycling center.

right

What are the two types of fish that environmental groups have filed suit to protect by diverting more water way from agriculture in California?

salmon smelt

Economic Incentives

taxes, Permits that can be traded, Fines, Subsidies

Intrinsic value

that which is desirable....

Exchange value

the value of a commodity ....

Instrumental value

the value of objects, both physical objects and abstract objects, not as ends-in-themselves, but as means of achieving something else.

Reduce

to buy less and use less

GPS

triangulates positon.....

85% of personal travel is by auto.

true

At the current time the majority of problems related to cars with a new DNA relate to batteries.

true

Changes in technology and prices have driven a huge increase in estimated reserves of energy minerals in the US.

true

Charles Dana Wilber said that by repeated processes of sowing and planting with diligence the desert line is driven back, not only in Africa and Arabia, but in all regions where man has been aggressive, so that in reality there is no desert anywhere except by man's permission or neglect.

true

Economics is the study of how individuals and societies choose to employ scarce resources.

true

Solar PV generally has a lower Levelised Cost of Energy (LCOE) than Solar Thermal.

true

Some have argued that saving the Amazon, Earth's largest tropical jungle, could be a cheaper and faster way to avoid greenhouse gas emissions than replacing coal-fired power plants with renewable energy or switching to electric cars.

true

Thomas Hobbes has argued that in the state of nature with no social contracts, there is would no place for industry, because the fruit thereof was uncertain, and that the life of man would be solitary, poor, nasty, brutish, and short.

true

Ultrasonic Sensors

use high frequency....

Partial Automation

vehicle has combined automated functions...

Driver Assistance

vehicle is controlled by the driver....

What was the first energy shortage in the American colonies?

wood

The opportunity cost of land used to build a freeway is the expenditure incurred in grading the land, putting down road base, and topping with concrete.

wrong

No Automation

zero autonomy....

What is the amount of work done by the applied force when a 8 pound object is lifted 3 feet at constant speed? Note that g = standard acceleration of gravity = 9.80665 m s 2 There are 4.4482 Newtons per pound. There are 3.28084 feet in a meter.

•23.99981267 foot-pounds •32.5394716 Joules

Cooperative organization

•A farmer sells 150 acres that includes a natural lake to a realty company who subdivides it and sells 3 acre lots to... •You are tired of the run-down public parks in your town which are plagued by gang violence and noisy college students....

Pigovian tax

•A fee on industrial waste discharged into a stream proportional to the damage done.

Quota

•A limit of on total amount of particulate matter that is allowed into the air from a given power plant •An automaker selling 100,000 cars in California in 2018 will need at least 4,500 ZEV (zero-emmision vehicle) credits, with at least 2,000 coming from battery-

Additive manufacturing has the following characteristics.

•Achieved by additive processes, in which new material is added layer by layer. •Each product is made as an individual item rather than as just one of many in traditional manufacturing.

How previous energy crises that occurred over the past 1000 years been resolved (select the two correct answers)?

•By finding new energy sources •By technological advance (e.g., making better use of existing energy sources)

Which of the following are part of a new automotive DNA according to Reinventing the Automobile: Personal Urban Mobility for the 21st Century?

•Fueled by electricity and hydrogen •Electric drive •Will be able to communicate wirelessly with each other

Which of the following statements describe the institutional structure in the current paradign for personal transportation?

•Government subsidies of some portions of transportation and energy sector •Private market provision of most personal transportation with some public transportation via buses, trains, and planes •Public provision of most roads with relatively few tolls in many parts of the United States

Carbon credits can be generated from various types of projects:

•Helping communities in the Karnataka and Tamil Nadu regions of India to gain access to energy efficient cookstoves. They are designed to reduce fuel consumption (typically wood) by up to 60%, compared to traditional `Chulhas'. The stoves also produce less smoke, black soot and particulate matter, helping to lower indoor air pollution and prevent respiratory diseases. •Switching the generation of electricity from coal to wind. •Using garbage as a fuel to create energy as compared to burying it in a landfill where it will produce methane which us emitted into the atmosphere. •Restoring biodiversity-rich forests that have been degraded or fragmented.

Which of the following statements are true.

•If I were a utilitarian and gave equal weighting to all people born between 1950 and 2150, I would likely promote policies significantly reducing greenhouse gases below their current levels. •If all individuals in common property situations were to follow the maxim ''Act only such that you could will the maxim on which you act as a universal law'', the commons problem would likely go away. •A utilitarian would argue that it would have been morally permissible to require a small number of workers to return to the Fukushima nuclear plant after the earthquake to insure little radiation was released in order to save the lives of many people living within 20 miles of the plant. •If only the welfare of people currently living on the earth were included in the utilitarian calculus, more investment would likely go to poverty reduction in the third world than to green subsidies in the OECD countries. •If the rights of the living dominate the rights of the unborn, a utilitarian would argue that each couple should carefully consider the effects on non-family members throughout the world on having another child.

Which of the following statements are true.

•If only the welfare of people currently living on the earth were included in the utilitarian calculus, more investment would likely go to poverty reduction in the third world than to green subsidies in the OECD countries. •If I were a utilitarian and gave equal weighting to all people born between 1950 and 2150, I would likely promote policies significantly reducing greenhouse gases below their current levels. •if all individuals in common property situations were to follow the maxim ''Act only such that you could will the maxim on which you act as a universal law'', the commons problem would likely go away. • If the rights of the living dominate the rights of the unborn, a utilitarian would argue that each couple should carefully consider the effects on non-family members throughout the world on having another child.

The following are characteristics of tradable emissions permits

•If the permits are simply handed out to existing firms, the potential revenue from allocation goes to industry instead of the government. •Buyers will not have to acquire as many licenses if they can cut back on their emissions •Limited number of licenses to emit a specified pollutant •Fines might be imposed on firms which pollute at higher levels than that for which they have permits •A firm that wants to create more pollution than it is licensed for can go out and buy additional licenses from other parties •

Subsidies to or outright purchases of "greener" processes

•Iowa State University buys flex fuel vehicles and uses E-85. •The state of Iowa provides a tax credit for the installation of low energy appliances

Which of the following statements (or statement) provide(s) the clearest path to not running out of energy?

•Reuse elements of discarded items in order to reduce the energy required to produce new items. •Adopt more efficient production processes in general. •Reduce usage through cutting back on activities that are energy hogs and adopting more energy efficient technology in consumption.

Consider the numerous individuals and groups who would like to have access to National Parks, National Forests or Wilderness Areas for a variety of activities. Which of the following are reasonable approaches to prevent damage/overuse and are also fair, just, and improve the human condition? (Multiple Answers)

•Set up a reservation system where reservations are available for up to one year in advance on 2, 9, 16, 23, and 30 January and 2, 9, 16, 23, and 30 July each year and those who can sign up during the various weeks in January and June rotate by groups of last names every year....... •Set up up a quota system where use permits are allocated using a lottery.

Consider the numerous individuals and groups who would like to have access to the Brushy Creek State Recreation Area in north central Iowa. Which of the following are reasonable approaches to prevent damage/overuse and are also fair, just, an improve the human condition?

•Set up a reservation system where use permits for 1/2 of normal daily capacity are available for up to one year in advance. Individuals may make as many reservations as they choose up to this daily limit. There is a $10 per day... •Set up a reservation system where reservations are available for up to one year in advance on 2, 9, 16, 23, and 30 January and 2, 9, 16, 23, and 30 July each year and those who can sign up during the various weeks in January and June rotate by groups of last names every year.

Which of the following are likely to be fairly effective in reducing overfishing around the world.

•Set up standards on sustainability such as the Marine Stewardship Council (MSC). •Allow fish coming from such fisheries to be labelled with the MSC label and encourage consumers to only purchased certified fish. •Allocate and enforce catch limits •Allocate more sections of the ocean to marine protected areas (MPA's). •Put a tax on at-risk fish

Which of the following are common rational responses by a user to disruption in the supply chain of a critical material?

•Source diversification •recycling •Materials substitution

Manmade climate forcings include

•The rising concentration of atmospheric carbon dioxide and other greenhouse gases •Particle pollution (aerosols) •Deforestation

The MIT CityCar concept was designed as an all-electric four-wheel ultra-small vehicle (USV) for two passengers, and drive-by-wire driver interface. Each wheel is independently digitally controlled, with its own wheel motor, which enables them to move in different direction and speed, and allows the wheels to rotate up to 120 degrees, allowing for turning on a dime or 0-degree turn radius, thus giving the vehicle more precise maneuverability. This feature makes the CityCar suitable for urban conditions, as it can perform sideways motions for parallel parking, and O-turns instead of the conventional three-point turns..............

•concept improves the human condition by making it easier and more efficient to get around in cities that are more populated •improves the human condition for people commuting to work in large urban areas who do not have good mass transit options •is closer to a just solution if there are purchase subsidies for low income consumers •is not an adaptable solution because of passenger capacity •is physically possible •is technologically feasible •may not be profitable due to a limited market •may or may not be environmentally sound depending on the electricity source for charging •is socially acceptable

Carbon dioxide released into the atmosphere as a result of human activity is a significant contributor to climate change. Climate change has both positive and negative effects on human welfare but consensus estimates indicate an overall negative effect over time. Many economists argue that a carbon tax offers.....

•improves the human condition as long as the overall •is a just solution for on the consumer side as those •is adaptable because the leve of the tax •is physically possible •is technologically feasible to the extent •would allow firms in the energy sector to have normal •is environmentally sound •might be more socially acceptable if the government

American shoppers spend nearly $2 billion on flowers — most of which will be roses — on Valentine's Day each year. Almost all of these roses will have been flown in from Latin America, specifically the sunny, mountainous regions of Colombia and Ecuador, the world's second- and third-largest exporters of cut flowers after the Netherlands. Colombia alone shipped more than 4 billion flowers to the US in 2019. Valentine's Day.....

•improves the human condition of rose growers in California •improves the human condition of researchers working on alternative ways to produce roses inexpensively during the winter •is not a just solution in that for those who are poorer the rise in the price of roses is a greater barrier to purchase •is adaptable because the tax can be adjusted as market conditions change •is physically possible •may not be technologically feasible to the extent that there are ways to import and distribute the roses •would reduce overall profits in the rose industry as their price rose relative to other goods •may or may not be environmentally sound depending on the environmental costs of producing roses in California verus in Latin America •might not be socially acceptable if the rose tax leads to enslavement of Latin American farmers to drug lords

9.1 BILLION US Tons of plastic has been produced since plastic was introduced in the 1950s. The amount of plastic produced in a year is roughly the same as the entire weight of humanity. Virtually every piece of plastic that was ever made still exists in some shape or form (with the exception of the small amount that has been incinerated). 91% of plastic waste isn't recycled. And since most plastics don't biodegrade in any meaningful sense, all that plastic waste could exist for hundreds or even thousands of years. 500 MILLION plastic straws are used EVERY DAY in America. That's enough to circle the Earth twice. 100 BILLION.........

•is technologically feasible •may not improve the human condition if the social costs of producing and using plastic substitutes..... •may or may not be environmentally sound depending on the enviromental costs of producing...... •is a just solution •is physically possible but not technologically feasible •would not likely return a normal level of profit to trash collection firms unless they received a subsidy from the government •would improve the human condition •would not be a just solution if the large incentives to recycle created opporunities for corruption or

Non-point source pollution from crop production is a major problem in the Mississippi River Basin and in Iowa. One way to address this problem is through the use of a Pigouvian tax on above and below ground drainage from farmers' fields. The difficulty is that this discharge is hard to measure and monitor. Suppose a research in Agricultural and Biological Engineering at Iowa State University develops a new method for monitoring this effluent that is accurate and only moderately expensive. Suppose that the state of Iowa adopts a policy to tax non-point source pollution such that it is reduced significantly. What is your assessment of this plan.

•may or may not improve the human condition depending on the level of the pollution tax.... •is probably not a just solution •may not adaptable to changes in water flows due to climage change •is physically possible •is technologically feasible •will not likely be profitable if the tax is high and... •is environmentally sound •is socially acceptable

Which of the following are parts of the current stylized paradigm for personal transportation?

•weight and size = safety •one device for all needs •convenience is critical

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