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Oilman T. Boone Pickens has proposed a plan to build wind farms in the center of the United States to produce about 20 percent of the electricity consumed in the United States. This would replace that same percentage of electricity currently produced by natural gas. The natural gas saved would be used to replace gasoline to run cars and light trucks. According to Pickens, oil imports could be reduced by one-third. The United States currently uses about 25 percent of global oil production. However, there are other countries, namely China and India that are experiencing its own industrial revolutions thereby impacting the Pickens Plan. (include a graph or two depicting the plan)
--Using the supply-and-demand model explain how Pickens' plan would affect the global price of oil if it were to be successfully implemented. Feel free to further research this plan and other alternative energy plans.
--If you were a government energy policy advisor, what would you recommend as an energy policy for the 21st Century? Why?
a new osha rule requires that welders be given 2 hour break for every 2 hours of work to prevent carpel tunnel
The consequences of decriminalizing illegal drugs have long been debated. Some claim that legalization will lower the price of these drugs and reduce related crime. Others claim that more people will use these drugs.
based on grossly distorted picture how useful do you think gdp is as an economic indicator? what are its limitations as
When developing short-run cost curves, it is supposed that all firms in perfect competition have the same cost curves and they all make identical short-run profits or losses.
Evaluate the Clean Air Act and determine if it has been effective from an economic standpoint. Explain your reasoning. Based on your evaluation of the Clean Air Act and additional efforts to address pollution, make policy recommendations that woul..
According to chapter 16, which deals with fiscal policy, a tax reduction can be utilized as an expansionary fiscal policy tool to expand the economy. Do you believe in a tax reduction for large corporations?
For what value of Q does the cost function exhibit economies or diseconomies of scale?
Contrast the market demand/supply curves and the individual firm's labor supply/demand curve in a perfectly competitive labor market. How does the law of diminishing marginal returns affect a firm's demand for labor
The chair of the Council of Economic Advisers has requested that you write a short paper explain how economic policy can be used to stabilize the economy and achieve a high level of economic growth during the next five years.
Joe enjoys fishing & goes out about 20 times per year. One day, Sara told him that fishing is too expensive of a hobby. She thinks he should stop going because she calculated that it costs about %28.75 for every fish he catches because he usually ..
What is monopolistic price and quantity and what is the competitive price and quantity
Sergei is a computer programmer with a utility function equal to U=Y+120L-L . He contracts with Uber that allows him to set his own work hours; they pay him $50/hour. He has allocated himself a work-hour time budget of a maximum of 250 hours per mont..
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