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Unformatted text preview: econ 3140-2 problem set one due Friday, January 30 attempt all questions 1 Consider the following statements: a) Following well-known principles, the development of alternative energy technology like wind power, solar power and biofuels, requires the commitment of massive investment in hardware and infrastructure. b) The outputs and inputs of these energy technologies can be accurately estimated. c) Given certain criterion, such as the substitution for imported fuel, measured in BTU’s, can be ranked, with some confidence. d) Whether or not alternative energy projects become profitable will depend upon the world energy demand, when these projects are completed, and how many competing projects will come on line within the same time frame. The latter is subject to the beliefs of rival investors in the market. Answer the following questions: 1) In what ways are these issues similar to ones faced in engineering and the natural sciences? 2) In what ways are these issues similar to ones faced other social sciences and not engineering and the natural sciences?...
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- Spring '08
- Economics, gross domestic product, government spending