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8. Hydraulic fracturing is a new method that can extract unconventional oil and gas resources. The U.S. National Petroleum Council estimates that hydraulic fracturing will

8. Hydraulic fracturing is a new method that can extract unconventional oil and gas resources. The U.S. National Petroleum Council estimates that hydraulic fracturing will eventually account for nearly 70 percent of natural gas development in North America. Suppose that the fracking boom improved expectations about future productivity without affecting current productive capacity. Using a carefully drawn ISLM diagram and a paragraph of <100 rates

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