ECON 302 Midterm: ECON302 Midterm 11 Fall 2008 solution
Document Summary
Instructions: this is closed book, closed notes exam, no calculators of any kind are allowed, show all the calculations, if you need more space, use the back of the page, fully label all graphs. Suppose that the gdp per capita in china grows at constant rate of. Using the "rule of 70", approximately how long will it take for the. Circle the correct answer: 10 years, 49 years, 4. 9 years, 77 years, (10 points). Suppose you deposit in a savings account that pays interest of i% per year. Write the equation that gives the amount of your savings after t years. The next table provides data on prices and output in some artificial economy for the years 2000 2001. The goods are labeled 1 and 2, so that. 1 are prices and quantities of the two goods respectively. Calculate the inflation rate between the years 2000 and 2001, using 2001 as the base year.
