Deck 23: The Economics of Resources

Question 1

Suppose the world demand for gold is about 32,000,000 troy ounces per year. The known global reserves are 100,000,000,000 troy ounces. What is the static reserve for gold?

Answer 1

3125

Question 2

Suppose the world demand for aluminum is about 16,800,000 tons per year. The known global reserves are 1,700,000,000 tons. The demand for aluminum is increasing at a rate of 6.4%. What is the exponential reserve for aluminum?

Answer 2

32.43

Question 3

Suppose the world demand for coal is about 2,174,000,000 tons per year. The known global reserves are 5,000,000,000,000 tons. The demand for coal is increasing at a rate of 4.1%. What is the exponential reserve for coal?

Answer 3

113.41

Question 4

Use the following reproductive curve for a population to answer Questions. Units are in thousands.
Estimate the equilibrium population size.

Question 5

Use the following reproductive curve for a population to answer Questions . Units are in thousands.
Estimate the sustainable yield corresponding to a population of size 20,000 remaining after the harvest.

Question 6

Suppose the world demand for coal is about 2,174,000,000 tons per year. The known global reserves are 5,000,000,000,000 tons. What is the static reserve for coal?

Question 7

Use the following reproductive curve for a population to answer Questions . Units are in thousands.
Estimate the maximum sustainable yield.

Question 8

A colony of penguins had 541 members at the beginning of 1994. At the beginning of 2015, the colony had grown to 770 members. What was the average growth rate over that period?

Question 9

The population of the state of Virginia was 7,187,700 at the beginning of 2002. Assuming an average growth rate of 1.5% per year, what will the population be at the beginning of 2020?

Question 10

The population of a small town was 4200 at the beginning of 2002. Assuming an average growth rate of 0.2% per year, what will the population be at the beginning of 2020?

Question 11

A colony of penguins had 534 members at the beginning of 1998. At the beginning of 2015, the colony had grown to 821 members. What was the average growth rate over that period?

Question 12

A colony of penguins had 352 members at the beginning of 1998. The colony is expanding at an average rate of 1.2% per year. How many penguins will there be at the beginning of 2015?

Question 13

Suppose the world demand for zinc is about 5,000,000 tons per year. The known global reserves are 123,000,000 tons. What is the static reserve for zinc?

Question 14

Suppose the world demand for zinc is about 5,000,000 tons per year. The known global reserves are 123,000,000 tons. The demand for zinc is increasing at a rate of 2.9%. What is the exponential reserve for zinc?

Question 15

Use the following reproductive curve for a population to answer Questions. Units are in thousands.
Estimate the sustainable yield corresponding to a population of size 40,000 remaining after the harvest.

Question 16

Use the following reproductive curve for a population to answer Questions . Units are in thousands.
Estimate the equilibrium population size.

Question 17

A population grows according to a logistic growth model, with population parameter
 = 4.1 and x = 0.9 for the first year. Find the value of x after the second year.

Question 18

Suppose the world demand for gold is about 32,000,000 troy ounces per year. The known global reserves are 100,000,000,000 troy ounces. The demand for gold is increasing at a rate of 4.1%. What is the exponential reserve for gold?

Question 19

A colony of penguins had 1024 members at the beginning of 2001. The colony is expanding at an average rate of 3.4% per year. How many penguins will there be at the beginning of 2015?

Question 20

Use the following reproductive curve for a population to answer Questions. Units are in thousands.
Estimate the maximum sustainable yield.

Question 21

A population grows according to a logistic growth model, with population parameter
 = 1.9 and x = 0.05 for the first year. Find the value of x after the third year.

Question 22

Suppose the world demand for aluminum is about 16,800,000 tons per year. The known global reserves are 1,700,000,000 tons. What is the static reserve for aluminum?

Question 23

Suppose that a nonrenewable resource is only available for a fixed supply QUOTE . If we are using QUOTE units per year and continue using QUOTE units per year, then find the expression for the static reserve.

Question 24

What will happen to the growth rate as the population increases toward the carrying capacity?

Question 25

Suppose the world demand for aluminum is about 16,800,000 tons per year and the static reserve is 100. What are the known global reserves for aluminum?

Question 26

In one year, a 10-gram sample of radioactive element X loses 1 gram of mass through decay. What is the half-life of element X in years?

Question 27

A population grows according to a logistic growth model, with population parameter
 = 3.9 and x = 0.84 for the first year. Find the value of x after the second year.

Question 28

The half-life of carbon-14 is 5730 years. If a carbon sample that originally contained 1 milligram of carbon-14 now contains 0.05 milligrams, about how old is the sample to the nearest 100 years?

Question 29

A population grows according to a logistic growth model, with population parameter
 = 2.4 and x = 0.01 for the first year. Find the value of x after the third year.

Question 30

Suppose the world demand for coal is about 2,174,000,000 tons per year and the static reserve is 2300. What are the known global reserves for coal?

Question 31

If it takes a 100-gram sample of radioactive element Y 12 years to decay to 1 gram of element Y, how long will it take a 5-gram sample to decay to 0.5 grams?

Question 32

A population grows according to a logistic growth model, with population parameter
 = 1.4 and x = 0.05 for the first year. Find the value of x after the third year.

Question 33

A population grows according to a logistic growth model, with population parameter
 = 1.4 and x = 0.15 for the first year. Find the value of x after the third year.

Question 34

For a logistic model, what kind of shape will you get if you graph the quantity QUOTE against QUOTE ?

Question 35

The half-life of polonium-210 is 138 days. How many days will it take for 10 grams of polonium-210 to decay to 3 grams? Round to the nearest day.

Question 36

A population grows according to a logistic growth model, with population parameter
 = 1.4 and x = 0.05 for the first year. Find the value of x after the second year.

Question 37

What is the maximum population size that can be supported indefinitely by the available stream of resources?

Question 38

The half-life of radon-222 is 3.82 days. How long will it take for a quantity of radon-222 to decay to one millionth of the original amount?

Question 39

A population grows according to a logistic growth model, with population parameter
 = 3.1 and x = 0.9 for the first year. Find the value of x after the third year.

Question 40

Barium-122 has a half-life of two minutes. What is the decay constant? Use six decimal places with the unit QUOTE .

Question 41

The population of the world in 1800 was about 900,000,000. The average growth rate from 1800 to 1900 was 0.51%. What was the approximate population in 1900?

A) 925,000,000
B) 946,000,000
C) 951,000,000
D) 1,500,000,000

Question 42

The population of a small town was 4500 at the beginning of 2009. Assuming an average growth rate of 1.3% per year, what will the population be at the beginning of 2019?

A) 4751
B) 4923
C) 5071
D) 5120

Question 43

The population of the state of Texas in 1993 was about 17,778,000. In 2001, the population was about 21,325,000. What was the average growth rate over that period?

A) 0.3%
B) 1.2%
C) 1.9%
D) 2.3%

Question 44

The population of the state of California in 1980 was about 23,237,000. In 2001, the population was about 34,501,000. What was the average growth rate over that period?

A) 0.3%
B) 1.2%
C) 1.9%
D) 2.3%

Question 45

The population of the state of Alaska in 1700 was about 302,583. In 2000, the population was about 634,900. What was the average growth rate over that period?

A) 0.12%
B) 0.14%
C) 0.19%
D) 0.24%

Question 46

List the three characteristics of a dynamical system that exhibits chaos.

Question 47

In 2001, the population of the state of Washington was about 5,594,000 and the growth rate was approximately 1.6%. What is the projected population of Washington in 2005?

A) 2,465,421
B) 5,617,428
C) 5,960,700
D) 7,187,500

Question 48

In 1999 the population of the Ukraine was about 49,800,000 and the growth rate was approximately −0.62%. What is the projected population of the Ukraine in 2010?

A) 46,506,993
B) 47,165,236
C) 49,203,421
D) 50,120,215

Question 49

What is the name of the policy that would maintain the same yield if continued indefinitely?

Question 50

The population of the state of New York in 2000 was about 18,976,000. In 2001, the population was about 19,011,000. What was the average growth rate over that period?

A) 0.18%
B) 1.16%
C) 1.90%
D) 2.30%

Question 51

In 1999 the population of the Marshall Islands was about 65,500 and the growth rate was approximately 3.86%. What is the projected population of the Marshall Islands in 2010?

A) 70,165
B) 99,351
C) 101,203
D) 120,032

Question 52

The population of the state of Georgia in 2001 was about 8,384,000. The average growth rate from 2000 to 2001 was 2.4%. What was the approximate population in 2000?

A) 6,238,100
B) 7,284,700
C) 8,028,200
D) 8,187,500

Question 53

The population of the United States in 2000 was about 281,422,000. In 2001, the population was about 284,797,000. What was the average growth rate over that period?

A) 1.2%
B) 1.4%
C) 1.9%
D) 2.4%

Question 54

The population of a small town was 1500 at the beginning of 2007. Assuming an average growth rate of 2.3% per year, what will the population be at the beginning of 2015?

A) 1621
B) 1799
C) 2137
D) 3197

Question 55

The population of British Columbia in 1997 was about 3,959,700. In 2001, the population was about 4,095,900. What was the average growth rate over that period?

A) 0.85%
B) 1.36%
C) 1.73%
D) 2.74%

Question 56

In 2001, the population of the state of Alabama was about 4,467,000 and the growth rate was approximately 0.4%. What is the projected population of Alabama in 2020?

A) 4,565,454
B) 4,818,995
C) 5,224,386
D) 6,187,500

Question 57

The population of a small town was 3000 at the beginning of 2007. Assuming an average growth rate of 0.8% per year, what will the population be at the beginning of 2015?

A) 1621
B) 1799
C) 2137
D) 3197

Question 58

The population of Mexico in 1900 was about 18,000,000. In 2000, the population was about 100,000,000. What was the average growth rate over that period?

A) 0.85%
B) 1.36%
C) 1.73%
D) 2.74%

Question 59

The population of a small town was 1200 at the beginning of 2009. Assuming an average growth rate of 4.2% per year, what will the population be at the beginning of 2019?

A) 1426
B) 1811
C) 2037
D) 2139

Question 60

For an iterated function system using the function QUOTE , list the first 10 values when you start with 77.

Question 61

Suppose the world demand for iron is about 420,000,000 tons per year. The known global reserves are 100,000,000,000 tons. What is the static reserve for iron?

A) 93.3
B) 128.4
C) 238.1
D) 420.0

Question 62

Suppose the world demand for silver is about 343,750,000 troy ounces per year. The known global reserves are 5,500,000,000 troy ounces. What is the static reserve for silver?

A) 3.44
B) 14.2
C) 16.0
D) 51.5

Question 63

The population of the United States in 1700 was about 600,000,000. In 2000, the population was about 6,000,000,000. What was the average growth rate over that period?

A) 0.23%
B) 0.77%
C) 5.4%
D) 10%

Question 64

Suppose the world demand for copper is about 8,600,000 tons per year. The known global reserves are 308,000,000 tons. The demand for copper is increasing at a rate of 4.6%. What is the exponential reserve for copper?

A) 21.62
B) 35.81
C) 65.47
D) 96.55

Question 65

Suppose the world demand for silver is about 343,750,000 troy ounces per year. The known global reserves are 5,500,000,000 troy ounces. The demand for silver is increasing at a rate of 2.7%. What is the exponential reserve for silver?

A) 3.44
B) 13.5
C) 16.0
D) 51.5

Question 66

Use the following reproduction curve for a population to answer Questions Units are in thousands.
The maximum sustainable yield is approximately:

A) 10,000.
B) 20,000.
C) 30,000.
D) 40,000.

Question 67

The population of Ontario in 1997 was about 11,249,500. In 2001, the population was about 11,874,400. What was the average growth rate over that period?

A) 0.85%
B) 1.36%
C) 1.73%
D) 2.74%

Question 68

The half-life of iron-59 is 45 days. After three months, how much of a 72-gram sample of iron-59 is left?

A) 10 grams
B) 18 grams
C) 24 grams
D) 70 grams

Question 69

Suppose the world demand for cobalt is about 16,360,000 pounds per year. The known global reserves are 1,800,000,000 pounds. The demand for cobalt is increasing at a rate of 1.5%. What is the exponential reserve for cobalt?

A) 21.62
B) 35.81
C) 65.47
D) 96.55

Question 70

Suppose the world demand for copper is about 8,600,000 tons per year. The known global reserves are 308,000,000 tons. What is the static reserve for copper?

A) 21.62
B) 35.81
C) 65.47
D) 96.55

Question 71

Suppose the world demand for cobalt is about 16,360,000 pounds per year. The known global reserves are 1,800,000,000 pounds. What is the static reserve for cobalt?

A) 98.15
B) 110.02
C) 420.05
D) 604.51

Question 72

Iodine-131 has a half-life of eight days. A sample that originally contained 10 grams of iodine-131 now contains 1 gram. How much time elapsed between the two measurements?

A) 16 days
B) 24.2 days
C) 26.6 days
D) 33.3 days

Question 73

Suppose the world demand for iron is about 420,000,000 tons per year. The known global reserves are 100,000,000,000 tons. The demand for iron is increasing at a rate of 1.8%. What is the exponential reserve for iron?

A) 93.3
B) 128.4
C) 238.1
D) 420.0

Question 74

Use the following information to answer Questions
A radioactive element used in medicine has a physical half-life (the time in which half of any quantity of the element decays) and a biological half-life (the time in which half of an amount of this element in the body is excreted). The effective half-life is calculated from
The physical half-life of iron-59 is 45 days and its biological half-life is 600 days. Find the effective half-life of iron-59.

A) 40.4 days
B) 41.9 days
C) 322.5 days
D) 645 days

Question 75

If is much larger than for a particular element, then is approximately equal to:

A)
B)
C)
D)

Question 76

Use the following information to answer Questions
A radioactive element used in medicine has a physical half-life (the time in which half of any quantity of the element decays) and a biological half-life (the time in which half of an amount of this element in the body is excreted). The effective half-life is calculated from
The physical half-life of sulfur-35 is 87.4 days and its biological half-life is 90 days. Find the effective half-life of sulfur-35.

A) 44.3 days
B) 88.7 days
C) 177.4 days
D) 201.2 days

Question 77

Suppose the world demand for chromium is about 1,845,000 tons per year. The known global reserves are 775,000,000 tons. The demand for chromium is increasing at a rate of 2.6%. What is the exponential reserve for chromium?

A) 21.62
B) 35.81
C) 65.47
D) 96.55

Question 78

Suppose the world demand for chromium is about 1,845,000 tons per year. The known global reserves are 775,000,000 tons. What is the static reserve for chromium?

A) 98.15
B) 110.02
C) 420.05
D) 604.51

Question 79

If is approximately equal to 1, then is approximately equal to:

A)
B)
C)
D)

Question 80

The population of Laos in 1996 was about 5,200,000. In 2001, the population was about 5,952,520. What was the average growth rate over that period?

A) 0.85%
B) 1.36%
C) 1.73%
D) 2.74%