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15 Cards in this Set
- Front
- Back
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According to the textbook, what historical event was pivotal to the analysis of energy markets? |
The Great Energy Crisis of the 1970's |
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The mining and burning of coal causes damage to what elements of the environment? |
Land, water, and air -all of the above |
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How do we compare the amount of energy in different sources? |
We compare its heat content |
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The transportation sector is almost entirely dependent upon which energy source? |
Oil |
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What is the difference between a reserve and a resource? |
A reserve includes known and identified minerals that can be extracted and ______ a profit under current market conditions |
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What are the twin pillars of sustainable energy? |
Energy efficiency and renewable energy |
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Why did energy intensity, the ratio of energy to GDP, decrease over time? |
The economy shifted from manufacturing to services |
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What factors should be considered in forecasting energy in the short run? |
consumer preferences, technology, politics of the Persian Gulf. -all of the above |
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Total energy consumption in the U.S. from 1949 to the present has generally trended...? |
Upward |
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The real cost of energy, as measured by the hours at manufacturing wage to buy 100 gallons of gasoline and 100 Kwh of electricity, is currently |
About the same as in the peak in the 1970's |
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If the price of coal is $2 per MMBtu, the price electricity is $16 MMBtu and oil is $8 MMBtu and i heat my home mainly with oil, supplementing that with electricity in some rooms and buying no oil, which of the following is true? |
1.The last Btu of electricity I buy is worth twice as much as the last Btu of oil. 2.The last Btu of electricity I buy is worth more than eight times as much as even one Btu of coal 3. The last Btu of oil I buy is worth more than four times as much as even one Btu of coal -all of the above |
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According to your textbook, index numbers such as the CPI should be used with caution during periods of rapid economic change becuase.... |
The quantity weights such as a market basket of goods changes rapidly |
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How are income and energy related? |
At early stages of economic development, the income elasticity is..... |
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According to the calculations done in Homework #_, if the interest rate changes from 15% to 6%, and everything else is held constant, the total debt of a wind farm can be____ off |
In the same amount of time |
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According to the calculation done in Homework #2, how long did the PTC last? |
One year |
