ECON 3TO3: Fall 2013
Midterm exam: Answer Key
5 multiple-choice questions (4 points each)
1. (4 points) In Twilightia the production function in per worker terms is y = A(k)1/2(h)1/2. If the per-capita
output growth rate between 2008 and 2009 was 10%, the
Chapter 8 Textbook Notes
Transfer of Technology
- Observation that the accumulation of better technology has led to a higher level
of output does not immediately convey the difference between technology and
other inputs of production
- Recall: accumulatio
Econ 3T03
Winter 2017
Home Assignment #6: Due to March 17, 2017.
Cullinan before cut (replica)
Diamand found by Lucara
Show all your calculations and explain all your answers
1. (4 points). On November 19, 2015, a Canadian mining company Lucara announced
Econ 3T03
Winter 2017
Home Assignment #2: Answer Key.
1. (6 points). Assume we can use the Malthusian model to describe the situation in Twilightia. In
particular, the relationship between its income per capita (y) and the growth rate of the population
(L
Econ 3T03
Winter 2017
Home Assignment #1: Answer Key
1. (4 points) This problem is based on the growth equation (see page 10 of the textbook).
(a) How long will it take for Avataria with a growth rate of 10% to triple its income?
(b) What was the growth r
Econ 3T03
Winter 2017
Home Assignment #4: Due to February 17, 2017.
Happy Valentines Day!
Show all your calculations and explain all your answers
1. (6 points). Consider the 2-country model of technological growth from Section 8.3 of the
textbook. Suppos
Econ 3T03
Winter 2017
Home Assignment #1: Due to January 27, 2017.
Show all your calculations and explain all your answers
1. (4 points) This problem is based on the growth equation (see page 10 of the textbook).
(a) How long will it take for Avataria wit
Econ 3T03
Winter 2017
Home Assignment #4: Answer Key
1. (6 points). Consider the 2-country model of technological growth from Section 8.3 of the
textbook. Suppose that each country has 2,000 workers. Moreover, the technological leader has 30%
of its labor
Econ 3T03
Winter 2017
Home Assignment #2: Due to February 3, 2017.
Show all your calculations and explain all your answers
1. (6 points). Assume we can use the Malthusian model to describe the situation in Twilightia. In
particular, the relationship betwe
24.01.2017
Econ 3TO3:
Topics in Economic
Development
Lecture 5
Chapter 4
POPULATION
AND
ECONOMIC
GROWTH
1
24.01.2017
The Malthusian Model
Thomas Malthus (1766 - 1834)
The Malthusian View
Essay on Principle of Population published in 1798:
- Limited resour
10.01.2017
Econ 3TO3:
Topics in Economic
Development
Lecture 1
Chapter 1
THE FACTS
TO BE
EXPLAINED
1
10.01.2017
Income Differences
What Is Development?
What is an ideal developed society?
Physical quality of life OR something else?
Material well-being as
27.01.2017
Econ 3TO3:
Topics in Economic
Development
Lecture 8
Chapter 6
HUMAN
CAPITAL
1
27.01.2017
Education and Wages
- Unlike physical capital, human capital cannot be separated
from its owner => harder to measure the return to it
- Return to education
31.01.2017
Econ 3TO3:
Topics in Economic
Development
Lecture 9
Chapter 6
HUMAN
CAPITAL
1
31.01.2017
Quality of Schooling
Quality of schooling varies across countries
Student-to-teacher ratio in primary schools in 2005:
- high-income countries: 16
- low-in
11.01.2017
Econ 3TO3:
Topics in Economic
Development
Lecture 2
1
11.01.2017
Chapter 3
PHYSICAL
CAPITAL
What is physical capital?
Physical objects that extend our ability or do work for us
Not only machines, but buildings, infrustructure, computers, etc.
M
24.01.2017
Econ 3TO3:
Topics in Economic
Development
Lecture 6
Chapter 4
POPULATION
AND
ECONOMIC
GROWTH
1
24.01.2017
Fertility Control and Transition
- In Europe fertility rates decline BEFORE modern contraception
become widely available
BUT
- In developi
25.01.2017
Econ 3TO3:
Topics in Economic
Development
Lecture 7
Chapter 5
FUTURE
POPULATION
TRENDS
1
25.01.2017
Population Aging: Difference Between
GDP per worker and GDP per capita
GDP per worker = GDP / Number of workers,
where workers are people of wor
13.01.2017
Econ 3TO3:
Topics in Economic
Development
Lecture 3
Chapter 3
PHYSICAL
CAPITAL
1
13.01.2017
The Solow Model
(created in 1956)
Robert Solow (born in 1924, Nobel Prize in Economics: 1999)
assume that the quantity of labor input, L, is constant ov
17.01.2017
Econ 3TO3:
Topics in Economic
Development
Lecture 4
National Geographic:
January 2011
1
17.01.2017
Special Series: Population 7 Billion
There is 7+ billion people on the planet. By 2045 global
population is projected to reach 9 billion.
Not onl
Midterm Exam Review
Format: Closed book exam, 50 minutes long
Questions:
Part 1 (20 points): 5 multiple choice questions (no explanation is needed), 4 points each
Part 2 (80 points): 4 questions (20 points each). Here explain all your answers and show
all
Econ 3T03
Fall 2015
Home Assignment #5: Due to November 6, 2015.
Show all your calculations and explain all your answers
1. (6 points). Consider the following data, which applies to Avataria and Twilightia in the years
1990 and 2010. In both countries the
Econ 3T03
Fall 2015
Home Assignment #8: Due to November 27, 2015.
Cullinan before cut (replica)
Diamand found by Lucara
Show all your calculations and explain all your answers
1.(4 points). On November 19, 2015, a Canadian mining company Lucara announced
Econ 3T03
Fall 2015
Home Assignment #9: Due to December 4, 2015.
Show all your calculations and explain all your answers
1. (10 points.) Draw Lorenz curves for 2 income distributions. Can you say which distribution
is more unequal?
Income Distribution in
Econ 3T03
Fall 2015
Home Assignment #6: Due to November 13, 2015.
Show all your calculations and explain all your answers
(10 points). Consider a country in which there are 2 sectors called Sector 1 and Sector 2. The
production functions and the marginal
Econ 3T03
Fall 2015
Home Assignment #2: Due to October 2, 2015.
Show all your calculations and explain all your answers
1. (2 points). In Avataria one-forth of all females born die in infancy, and the rest of them live until
age 60. Women bear 1 child at
Econ 3T03
Fall 2015
Home Assignment #1: Due to September 25, 2015.
Show all your calculations and explain all your answers
1. (8 points) Consider 2 countries, Avataria and Twilightia, which can be described by the Solow
model. Avataria has a capital-labor
Econ 3T03
Fall 2015
Home Assignment #3: Due to October 9, 2015.
Show all your calculations and explain all your answers
1. (8 points) Consider 2 countries, Avataria and Twilightia, which can be described by the Solow
model. Both countries have the same pr
Econ 3T03
Fall 2015
Home Assignment #4: Due on October 20, 2015
Show all your calculations and explain all your answers
1. (10 points). In Avataria and Twilightia the main source of income is hunting. Avatarians and
Twilightians have an option to improve
Econ 3T03
Fall 2015
Home Assignment #7: Due to November 20, 2015.
Emperor Qin Shi Huang (259 B.C. 210 B.C.), the first Emperor of China.
Show all your calculations and explain all your answers
1. (4 points). Which of inefficiency described in Chapter 10 d
Econ 3T03
Fall 2015
Home Assignment #5: Answer key
1. (6 points). Consider the following data, which applies to Avataria and Twilightia in the years
1990 and 2010. In both countries the production function in per worker terms is:
y = A(k)1/2(h)1/2.
Output
Econ 3T03
Fall 2015
Home Assignment #6: Answer Key
(10 points). Consider a country in which there are 2 sectors called Sector 1 and Sector 2. The production
functions and the marginal products in the two sectors are:
Y1=20*(L1)0.5 and MPL1=10/(L1)0.5
Y2=1