Mid-term exam

Welcome to your midterm exam!

Please answer ONE question from EACH of the two sections below. You have 90 minutes starting at 11.30 this morning. One answer should be written, the other recorded on your phone. Both answers should be uploaded to Canvas (see links below).

A. Recorded answer

1. What is the difference between prices and values? What implications does this difference have for how to explain economic growth?
2. Mercantilism has been criticized by classical economists. Why? Are mercantilist ideas still relevant today?

upload here.

B. Written answer

1.  The work and functions of the IMF have changed considerably over the years. How? Why?
2.  What problems was the Bretton Woods system intended to solve? How successful was it?

upload here.