Midterm1.pdf - ECON314 –002 – Winter 2018 Midterm 1...

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ECON314 –002 – Winter 2018 Midterm 1 Version 1 - 1 of 9 - McGill University Department of Economics ECON314-002 – Economic Development I Midterm 1 Wednesday February 14 th , 2018 Duration: 70 minutes Student Name:___________________________________________________ (Family Name) (Given Name) Student ID #:______________________ VERSION #1 MASTER Instructions: i. Clearly print your student name and student ID number on this page where indicated (above), and on each page in top margin . ii. Answer all questions. There are 20 multiple choice questions, 4 “True/False/Uncertain” short answer questions. There are 70 points in this exam. iii. Multiple choice questions : Circle the best answer . Wrong answers will not be deducted from right answers. iv. Short answer problem : show all your work in the space provided and be clear and precise. If you need to make an assumption, make it, state it and work with it. v. Do not remove or add any pages. vi. You may use the blank back of sheet for your rough work. vii. Answers must be written in non-erasable pen, not pencil. viii. Exam aids: non-programmable calculators only. No other exam aids allowed. Cell phones or other electronic devices are not allowed. ix. Round fractions to 2 decimal points (if required) Do not write in this space PART I: _______/30 points PART II: _______/40 points Midterm Grade: _______/70 points
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ECON314-002– Winter 2018: Midterm 1 Student Name:________________________ - 2 of 9 - 1)PART I – MULTIPLE CHOICE QUESTIONS: Circle only the best answer (only one answer) (1.5 marks each) 1) All except which of the following can be said about the Development Gap: a.Educational attainment positively correlated with GDP per capita b.Rich countries tend to grow faster than poor countries c.Health outcomes tend to be better in rich countries than in poor countries d.Population growth rates tend to be lower in richer countries. e.All these trends are characteristic of the Development gap ANSWER B 2)Which of the following is true in the steady state in the Solow model: ANSWER B 3) Let Y be total output, K be total physical capital stock, L be labour and α and A are technology parameters. Then the following production function is the one utilized in the Solow Model a. ࠵? = ࠵?࠵?࠵? b. ࠵? = ࠵? ࠵? ! ࠵? ! ! ! c. ࠵? = ࠵? ࠵? ! ! ! ࠵? ! d. ࠵? = ࠵? ࠵? ! e. ࠵? = ࠵? ! ! ! ANSWER B
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  • Fall '11
  • rakovski
  • Solow, Römer

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