midterm_2_-_2008

Midterm_2_2008 - 1 Gregory Clark Econ 110A Spring 2008 MIDTERM 2 No calculators permitted A total of 100 points are possible Last Name First Name

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Unformatted text preview: 1 Gregory Clark Econ 110A, Spring 2008 MIDTERM 2 No calculators permitted. A total of 100 points are possible. Last Name: _____________________________ First Name: ________________________ Your Student ID Number: __ __ __ - __ __ - __ __ __ __ Part A: Multiple Choice Questions (40 points) (10 questions, each of which is worth 4 points) 1. What was the average number of children reported in the wills of rich men in England in the years 1580-1640? A. 2 B. 3 C. 4 D. 5 E. 6 2. The sons of rich men also tended to die rich. We know that this was not just because of the wealth they inherited because A. On average they only had 70% as much wealth as their fathers. B. There were heavy death duties on wealth in England in these years. C. Daughters got most of the wealth in dowries. D. The wealth of sons relative to their fathers was largely independent of how many brothers and sisters they had. E. Wealthy fathers tended to educate their sons more. 3. If the rate of population growth in a pre-industrial society over the long run was 0.1% per year, then the rate of technological advance would be A. 0.01% B. 0.02% C. 0.1% D. 0.2% E. 0.5% 2 4. The Japanese word for “button” derives (allegedly) from the language of which group that brought this important new technology to Japan? A. Chinese B. Korean C. Inuit D. Portuguese E. German 5. The method of the “double sale” was used in some Islamic societies to get around prohibitions on usury in Islam. This involved along with the loan transaction what sale? A. Sale of a religious indulgence forgiving the loan interest. B. Sale of a small piece of cloth at an inflated price. C. Sale of a peppercorn at an inflated price. D. Sale of two offsetting foreign currency transactions. E. Sale of a silver penny at an inflated price. 6. Low inflation rates are economically efficient. Modern democracies have annual inflation rates typically in the range of 2-10%. The inflation rate in medieval England was (approximately)?...
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This note was uploaded on 05/27/2011 for the course ECON 100A taught by Professor Schipper during the Spring '08 term at UC Davis.

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Midterm_2_2008 - 1 Gregory Clark Econ 110A Spring 2008 MIDTERM 2 No calculators permitted A total of 100 points are possible Last Name First Name

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