MIDTERM # 3
Remember to bring a non-programmable, non-graphical calculator, some pencils,
and an eraser.
I have tried to include all the important material that you will be tested on in this
The exam can consist of any material covered in class, regardless of
whether it appears on this sheet so read, think back and understand the material
covered during our lectures.
Also, don’t forget to work on all of your old quizzes
and attend the Question-Answer Session scheduled by the TAs. Good luck!
– PRODUCTION AND GROWTH
Definitions, applications and examples: productivity, physical capital, human
capital, natural resources, per capita GDP, investment, World Bank, IMF,
Gary Becker (everything he proposed), foreign direct investment, foreign
portfolio investment, diminishing returns, catch-up effect, free trade, inward
vs. outward oriented policies, brain drain, child labor, other problems
impacting developing countries
What are the differences in growth rates of countries attributable to?