Problem Set 3 California High-Speed Rail As an economic consultant to the Califo
ID: 366809 • Letter: P
Question
Problem Set 3 California High-Speed Rail As an economic consultant to the California state government, you have been requested to assess the California High Speed Rail (CHSR) project. In a three page typed paper, answer the following questions relating to the project. Use the benefit/cost format developed in class. Briefly summarize the historical background related to the construction of the California High Speed Rail. List the major benefits resulting from the completion of the CHSR. Do the assumptions used in deriving these benefits seem realistic? List the main cost involved with the project. Do the assumptions used in deriving these costs seem realistic? List the political obstacles to the completion of the project. For each obstacle describe a possible solution Why should CHSR be chosen over projects in Illinois or the Northeast Corridor? Put yourself in the position of a Californis Senator supporting this project.Explanation / Answer
I will put down some key points with which you can build your answer, as I am not sure what format your teacher has shared with you in your class.
Q1. The High Speed rail project was initiated in 2008 when Californian voters wanted a high speed railway between California and San Francisco. The original estimate of the project was around $40 billion. The CHSRis still under construction, but is currently facing multiple issues, which are:
We'll see about the issues in detail as we get to the specific questions below.
Q2. Major benefits of completing the CHSR:
Yes, these are realistic benefits.
Q3. Main costs associated with the project:
There are a few key aspects that comprise the cost of any high speed railway. If we talk about the CHSR, then we have the following:
Q4. Political obstacles
Q5. I would choose CHSR over projects in Illinois or the Northeast Corridor because:
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