The report that concluded that the world will run out of oil in about 40 years used which formula to calculate the number of years to depletion?
A) (proven reserves + unknown reserves) ÷ annual consumption = number of years to depletion
B) total reserves ÷ total consumption = number of years to depletion
C) proven reserves ÷ annual consumption = number of years to depletion
D) proven reserves ÷ unknown reserves = number of years to depletion
C
You might also like to view...
A ________ person is indifferent to a bet that has zero expected value
A) risk-neutral B) risk-loving C) risk-averse D) rent-seeking
The impact of a change in taxes on income is likely to be less than the effect resulting from a change in government spending since ________
A) the federal government typically operates in a deficit situation B) exports and imports can only assume positive values, but net exports can be positive or negative C) changes in the supply of money will be necessary if government spending is increased D) changes in taxes exert an indirect impact on total spending through changes in consumption