midterma

midterma - Econ 114 Javier Birchenall October 26, 2010...

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Econ 114 Javier Birchenall October 26, 2010 Midterm exam Name: ____________________________ Perm #: ______ Instructions. This is an 85 minutes closed book/notes exam. Please also turn o f you cell phone. There are 10 True/False/Uncertain questions (4 pages), each question represents 10 points. Consider the statement of each question and determine whether it is “true”, “false” or “uncertain”. No credit will be given without justi f cation, try to answer all questions since partial credit will be granted. Carefully labeled graphs may help your explanation. If the statement is false, you may want to correct it. Good luck! 1. Consider a country whose growth rate of income per capita is percent with  0 .T h ep e r i o do f time required for income per capita to double is years. In a country whose growth rate of income per capita is , the amount of time required for income per capita to decay to half of its initial value is . TRUE: The time it takes to double is such that 2=exp( × ) . Time to halve solves 1 2=exp( × 0 ) or ln(1 2) = × 0 . The previous formula is ln(1) ln(2) = × 0 .S ince ln(1) = 0 , 0 = ln(2) (
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This note was uploaded on 01/10/2011 for the course ECON 114 taught by Professor Cindybenelli during the Fall '08 term at UCSB.

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midterma - Econ 114 Javier Birchenall October 26, 2010...

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