1307FINALA - NAME: Student ID number: IS and Econ 13 -...

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NAME: Student ID number: IS and Econ 13 - Final Examination S. Skaperdas – March 21, 2007 Version A READ THE FOLLOWING CAREFULLY 1. Relax and take a deep breath 2. There are two parts in this Exam. Part A consists of 2 essay questions and is worth 23 points. Part B is worth 35 points and consists of 31 questions. Questions 1-27 are worth 1 point each; questions 28- 31 are worth 2 points each. 3. Write your name and your student ID number above. 4. Fill in your scantron, INCLUDING YOUR VERSION (A) . Be sure to mark (blacken) the appropriate boxes. (You will not get a grade otherwise.) 5. Use #2 pencil for the scantron. PART A Use the space below each question to write your answer. Pay attention to your writing and remember that more does not mean better. 1. What is the “natural resource curse”? Provide examples of three countries that suffer from that curse. What factors may explain this phenomenon? (8 points)
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2. Describe and briefly discuss eight (8) of the main correlates of modern economic growth that have been examined in the course. (15 points)
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PART B Questions 1-24 are worth 1 point each 1. Climate change due to the accumulation of greenhouse gases a. is an example of a positive externality. b. is an example of a negative externality. c. is likely taking place. d. is not occurring according to about half of climate scientists. e. b and c. 2. Making cost-benefit analyses of climate change a. does not make any sense because of the large uncertainties that exist in making predictions about the future. b. does not make any sense because we cannot possibly agree on how to value the welfare of future generations. c. does not make any sense because there is no certainty about what will occur in a couple of decades. d. is difficult because of the uncertainty of predictions and the valuation methods of the welfare of future generations. e. a and c. 3. According to estimates in the Stern Report on the economics of climate change, global warming is supposed to eventually lead to a. reductions ranging from 5 to 20 percent of per capita GDP. b. reductions ranging from 1 to 5 percent of per capita GDP. c. reductions ranging from 30 to 50 percent of per capita GDP. d. increase sea levels from 60 to 80 feet. e. c and d. 4. The Stern report argues that a. a 1 percent expenditure of GDP on mitigating the effects of global warming makes economic sense. b. a 5 percent expenditure of GDP on mitigating the effects of global warming makes economic sense. c. Business-as-usual is the preferred method because of the uncertainties and costs of mitigation measures. d.
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This note was uploaded on 02/20/2009 for the course ECON 62020 taught by Professor Skaperdas during the Spring '09 term at UC Irvine.

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1307FINALA - NAME: Student ID number: IS and Econ 13 -...

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