midterm04 - Pierre-Olivier Gourinchas Department of...

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Pierre-Olivier Gourinchas Econ182 Department of Economics International Monetary Economics UC Berkeley Fall 2004 Midterm examination Instructions: This is a 1 hour 30 minute exam with 3 questions worth a total of 90 points (1 point per minute), as indicated at the start of each question. In order to get full credit, you must give a clear, concise, and correct answer, including all necessary explanations and graphs. Calculators, books and notes are not permitted. Good luck! 1. [20po in t s ,5ea ch ]T rue ,F a l se ,Un ce r ta in
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2. [40 points] The ‘Dutch Disease’ . In 1979, oil prices rose just when the U.K. was starting to produce and export North Sea Oil in massive amounts. Yet the next few years saw the destruction of much of the U.K.’s traditional manufacturing export base. [Hint:
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midterm04 - Pierre-Olivier Gourinchas Department of...

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