The final exam will consist of 40 questions covering material from the first day of the course to
the last. The format of the questions will be mostly true/false, with some multiple choice
and multiple answer. You will have 50 minutes to complete the test.
When studying for the test, be sure to:
• Review the answers to each and every question in the 15 quizzes. Make sure you know
what the right answers are to each question and why these answers are the correct
ones. Note: In the grades section of blackboard, you will see your grade for each quiz.
The quiz grade itself is a link to the individual question & answers.
• Review the reflection pieces for each day.
• Email me with any questions you have.
Pay particular attention to the following questions:
• Is there more inequality between or within nations?
• Since 1990, has global inequality increased or decreased?
• In which continent is inequality the highest?
• According to Russ Roberts, historically what was the most common way for people to
• According to Jared Diamond, what factors were most important in explaining global
• Is it possible to “prove” theories? No! Social theories in particular can not be
proved. Prove is too strong a word to use in this context. Banish it from your vocabulary
in social science.
• What is gross domestic product?
• What is the concept of opportunity cost?
• What is the difference between explanatory questions and descriptive questions?
• What type of study is the gold standard for testing the effectiveness of a policy?
• What is the main cause of economic growth?
• What is an absolute definition of poverty? A relative definition?
• What is the principle of comparative advantage? According to that principle, what
should nations do?
• Which of the following factors is most important for predicting a person’s income —
gender, ethnicity, nation in which they live, IQ?
• According to Hans Rosling, does it still make sense to divide the world into rich nations
and poor nations?
• According to Firebaugh, is it possible for people to live on less than $2 per day?
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