219 Final Exam 2005

219 Final Exam 2005 - McGill University Professor...

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McGill University Professor Christopher Ragan 154-219A Fall 2005 Associate Examiner: Professor Paul Dickinson Economics 219A: Current Economic Issues Final Examination December 19, 2005: 2pm – 5pm Your Name___________________________ Student # ____________________________ Note: Cheating is against the rules at McGill. Please keep your eyes on your own exam. Looking at other students’ exams is strictly forbidden! Instructions: 1. This examination is out of a total of 180 points (roughly one point per minute). 2. You must answer all questions in the space provided. 3. There are 13 pages in total (including this page). 4. Please write neatly! 5. No calculators or electronic devices of any kind are permitted. A regular dictionary is permitted. 1
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Respond to each of the following statements, explaining whether it is correct (or incorrect) and under what conditions, and why. 10 points each. 1. Solow’s “residual” is an accurate measure of the extent of technical change, no matter how the technical change occurs. Comment. 2. “Allocative efficiency in the market for any specific product is all about the quantity of output produced; it is not at all about the market price.” Comment. 2
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This note was uploaded on 09/12/2008 for the course ECON 219 taught by Professor Ragan during the Spring '08 term at McGill.

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219 Final Exam 2005 - McGill University Professor...

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