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4033 ExamB - University of Arkansas ECON 4033 History of...

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University of Arkansas 3/11/08 ECON 4033 History of Economic Analysis TTh 2:00-3:20 p.m., WCOB 339 Exam B Name ( only on the back of the last page of these exam pages) Please put your name only on the outside of your blue book and only on the back of the last of these pages). Answer #1 in your blue book and the other questions on the paper provided. Thanks. Part One: REQUIRED QUESTION/ANSWER (30 MINUTES) 1. John Stuart Mill seemed to think that his contribution to economics was largely in the area of supply and demand because “nothing more remains to be written on the subject” [after his work]. What were Mill’s substantive contributions to the field of economics? Identify and explain each. Part Two: Short Answer (select four of the following and answer in the space provided) Please write “omit” in the one that you omit. (10 minutes each; 40-50 minutes total) 2. Smith’s mistaken analysis of international trade – 3. Ricardo’s value theory (why do goods have the prices they do?) –
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4. Malthus explained the role of population and economic growth as being based upon a series
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