ECON 105 Midterm: econ105ex2

• School: Simon Fraser University
• Department: Economics
• Course: ECON 105
• Professor: Brian Krauth

Document Summary

Please put away all materials except for pens or pencils and a non-programmable, non- graphing, non-communicating calculator. Communication with classmates for any purpose is forbidden. Raise your hand if you have any questions or needs. 10:20; any student observed writing after the exam ends will be penalized. Show your work ; all i care about is your answer to the question. Last year, real gdp in oceania was billion and the population was 2. 3 million. The year before, real gdp was . 0 billion and the population was 2. 0 million. What was the approximate growth rate of real gdp per person: 16 percent, 13 percent, 10 percent, 7 percent. One day, you double the time you spend; double the number of chocolate chips, flour, eggs, and all your other inputs; and bake twice as many cookies. What kind of production function is this: decreasing returns to scale, zero returns to scale, constant returns to scale increasing returns to scale.