In the US, Per Capita Energy Use __________, and Energy Intensity

question 21

Multiple Choice

In the U.S., per capita energy use __________, and energy intensity ____________.

• A)increased sharply from 1950 to the 1970s but has since declined; decreased from 1950 to the 1970s but has since increased
• B)increased sharply from 1950 to the 1970s but has since declined; has been declining since 1970
• C)was stable from 1950 to 1970 but has since increased sharply; has been increasing since 1950
• D)has been increasing since 1950; has also been increasing since 1950
• E)has been increasing since 1950; has been declining since 1950

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Definitions:

Utility Function

An economic model that quantifies the satisfaction or happiness a consumer receives from consuming goods and services.

Expected Utility

A theory in economics that models how agents choose among risky alternatives to maximize their satisfaction.

Income

Receipts garnered on a habitual basis as a result of engaging in work or investment.

Von Neumann-Morgenstern

A theory of expected utility which provides axioms for how rational individuals make decisions under uncertainty.