1. Which describes how the Dutch disease impacts industrialization?

A. Nations with natural resources do not develop and modernize as quickly

B. Nations with natural resources develop new industries rapidly

C. Nations with natural resources increase domestic taxes

D. Nations with natural resources need to import more goods

E. Nations with natural resources do not engage with the people

2. What happened to the Rapa Nui when the population of Easter Island surpassed its 'carrying capacity'?

A. Resources were depleted and then people left the island

B. The population was decimated by European contact

C. They went through an agricultural revolution

D. Local government's stopped deforestation to maintain the current population

E. Resources were depleted and the population crashed due to war and famine

3. What happened during the 1970s in Western economies that was viewed as a 'government failure' and led to a period of deregulation?

A. Hyperinflation

B. The rise of OPEC

C. The collapse of the gold standard

D. Stagflation

E. All of the above

4. Which of the following was not a factor leading to the increase of liberalization, deregulation, and privatization from the 1980s onwards?

A. Rejection of central planning

B. Collapse of the Soviet Union

C. Increased belief in the economic benefits of free markets

D. Increased belief in the political benefits of private ownership

E. The collapse of the California electricity market

5. How does the principle of subsidiarity guide us when we design economic systems?

A. Provides a rationale for markets

B. Helps establish regulatory boundaries

C. Establishes boundaries between forms of government

D. Avoids unnecessary centralization and inefficient resource allocations

E. All of the above

6. Which is not one of the four separations Western democracies rely on?

A. Separation of powers

B. Separation of religious institutions from the state

C. Separation of the government from the economy

D. Separation of the government from the media

E. Separation of the government and energy markets

7. What has driven America's new energy map?

A. The expatriation of manufacturing

B. The completion of the Keystone XL pipeline

C. Exports of LNG instead of imports

D. Increased need for Canadian hydrocarbons

E. A, C, and D

8. Which has not driven Russia's new energy map?

A. Sanctions by Western nations

B. Increased exports of LNG in the Black Sea

C. Increased investment in exports to China

D. Investments in new pipelines to isolate Ukraine

E. B and C

9. Which industry is the most difficult to decarbonize?

A. Transportation

B. Electricity generation

C. Manufacturing

D. Agriculture

E. Mining

10. What was Pope Francis' main critique of carbon credit markets?

A. It better enables firms to maximize profits

B. Carbon taxes are known to be more efficient

C. These markets are a new form of speculation

D. They do not slow excessive consumption fast enough

E. They do not do enough to protect forested land

11. What are the central two features of Nordhaus' Climate Clubs?

A. An international target carbon price & a penalty for nonparticipants

B. A national carbon tax for each club member & subsidizing myopic leaders

C. An international target carbon price & renewable energy R&D subsidies

D. A national carbon tax for each club member & FIT for solar energy

E. Taxing the carbon content of imports & reciprocity of trade terms

12. What are the three endowments that drive Canada's energy history?

A. Freshwater, biomass, hydrocarbons

B. Wind, nuclear, hydrocarbons

C. Freshwater, wind, solar

D. Biomass, hydrocarbons, solar

E. Nuclear, freshwater, solar

13. What percent of North America did Rupert's Land cover?

A. 5%

B. 10%

C. 15%

D. 20%

E. 25%

14. What is the central issue with developing more water power in Canada?

A. It conflicts with Indigenous land claims

B. Resources are far from population centers

C. There are no additional resources to exploit in Canada

D. The technology is too old to warrant additional investments

E. It does not help achieve our climate policies

15. In Canada which level of government has the right to tax natural resources?

A. Provincial

B. Federal

C. Municipal

D. Provincial and Federal

E. Municipal, Provincial, and Federal

16. Which of the following are false?

A. Canada has never imposed tariffs on US coal to promote mine development

B. Canada created Petro-Canada to boost development of the tar-sands

C. NAFTA saw Canada commit to letting market forces drive energy markets

D. Canada's Energy East pipeline ships oil to refineries in Montreal and New

Brunswick

E. All other answers

17. In which two provinces is oil production the highest?

A. Alberta and Saskatchewan

B. Alberta and Newfoundland / Labrador

C. British Colombia and Newfoundland and Labrador

D. Saskatchewan and Quebec

E. Alberta and British Colombia

18. Which of the following is false?

A. Tar sand development may give North America energy independence

B. Tar sand oil is argued to be ethical compared to oil from countries with

human rights violations

C. Western Canadian Select oil prices are lower than West Texas Intermediate

prices

D. There is adequate pipeline capacity to move Western Canadian oil to market

E. All answers are false

19. Which interventionist policies of the National Energy Program were gradually curtailed by Brian Mulroney following the 1984 election?

A. Price controls

B. Consumer subsidies

C. Production taxes

D. 25% crown share on federal lands

E. All other answers

20. Which of the following is false?

A. Government should set policy, but the regulator should implement it

B. Governments have recognized the importance of the independence of central banks

C. Energy decisions are often susceptible to the politics of the day

D. Economists believe that competition is far better than monopoly

E. There are cases where monopolies do not need to be regulated

21. Which is not a reason driving Ukraine to try to turn West?

A. The Holodomor

B. Mass deportations to Siberia

C. Poverty under soviet planning

D. Over reliance on Russian natural gas

E. Oppression during soviet rule

22. Canada has approximately what percent of the world's forest?

A. 5%

B. 10%

C. 15%

D. 20%

E. All answers are incorrect

23. Which of the following is true?

A. Canada is the world's largest energy producer

B. Canada produces more coal than Australia

C. Canada has the highest per capital energy production in the world

D. Canada has the second highest energy consumption per capita

E. Canada is the 4th largest energy producer in the world

24. What caused the hydro share of Canada's total electricity generating capacity to fall after 1950?

A. A lack of new hydro sources to develop

B. The discovery of oil in Canada

C. An increase in cheap natural gas generation

D. An increase in cheap coal generation

E. The discovery of nuclear energy

25. Which major oil pipeline was permanently cancelled by Biden in 2021?

A. Keystone Pipeline

B. Energy East Pipeline

C. Northern Gateway Pipeline

D. Trans Mountain Pipeline

E. TC Energy Keystone