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OSU ECON 4130 - ECON 4130 Exam 2 Review

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SP20 Exam 2 ReviewEconomics 4130SP20 Exam 2 ReviewThe exam will have 5, 10-point questions on it from the questions below. And, a 5 point analysis question similar to the ones discussed in class.1. (3 points) What role did guns play in the Conquistador’s success in the New World? - In European hands, gun became lighter and more portable. Gun gave Spaniards better fighting advantages.- Incas did not have weapons besides spears and bows- Incas had never seen guns. The smoke, the sound, and the smell scared them and they were terrified.(4 points) Why were the germs brought by the Spaniards so devastating to the Incans? - Smallpox is a disease that spread to humans from animals. - Since Europeans had relied on animals and worked with them so closelyfor many generations, most had become immune to their germs. - The Incans only had llamas and never exposed to infectious diseases. - Since the Incans had no exposure to these types of animals, they had almost no immunity to these germs, causing the outbreak of smallpox todevastate them.(3 points) Why were the Spaniards’ weapons so much more advanced than the Incans’?- Spanish guns and weapons were the best, and it also had some of the best swords.- However, Incas only had simple bronze tools. - Metals introduced in fertile crescent so that spread west to Spain relatively fast. - Swords were very strong from heating and cooling process.2. (5 points) Explain the significance of written language in giving the Conquistadors and advantage in their battle with the Inca. - A written account of Cortez's conquest of the Aztecs provided Pizarro with knowledge and tactics of how best to defeat the Incas. - Since written records are often more precise and well-kept over time than oral, the Conquistadors had access to better tactics than the Incans, giving them an edge before the battle had even begun.- The Incas had only local knowledge transmitted by oral memory, and they were unsophisticated and naïve compared to the Spaniards because of writing.(5 points) Explain the importance of horses in this battle.- Incas had not seen horses before and those Spanish horses were fierce, big, fighting horses. They could intimidate Incas.- They could get in amongst men and would trample Incas.- Horses gave Conquistadors height and speed advantage.- It gave Conquistadors advanced mobility with the use of the rapier.1. (3 points) Explain the Domar Model (incompatibility problem). - It refers to the incompatibility of free land, free labor and non-working,landholding class.- It is used in development economics to explain an economy's growth rate in terms of the level of saving and productivity of capital.(2 points) Why then according to Domar, did the manorial system arise? - Because free land and non-working landholding class were present in the manorial system.(3 points) What are the three sections in the 3-Course Rotation? - Spring Crop (Oats, barley, peas, beans)- Autumn wheat or rye- Fallow(2 points) Why was this innovation important for growth during the middle ages?- Feasible in heavier soil- Increased crop yield- Could support more people and animals2. (5 points) How specifically were manorial lands allocated between the lord and serfs? - The lord’s demesne could account for 25 to 30 percent of the total arable land of the manor and contained the manor house and associatedstructures.- Peasant holdings lay in large open fields which were divided into strips. Each peasant held several strips that were distributed throughout the fields of the manor.- The common land usually consisted of waste, meadows, pasture, and woodland. Peasants used these areas to graze livestock, gather firewood, etc. but lord supervised use.(5 points) What are the predominate explanations for this peculiar system of land distribution? Evaluate these explanations.- Enforce cooperation:- The most efficient agriculture practices during this period- Use of the heavy-wheeled plowed, teams of oxen, and later teams of horses – required cooperation among peasants- The capital costs of the best-practiced technology were too great for any one peasant household. Therefore, resources were shared or pooled across households. - Open fields was a way to ensure or facilitate cooperation- Risk Diversification:- Land is differing in quality, some may be too wet or too dry- Sometimes there were crop failure due to hail or pests- Holdings in different areas can mitigate these, but manors were too small of an area; many hazards befell entire manor3. (4 points) Explain (preferably using a graph) why the number of manors grew as the population increased in medieval Europe. - Rapidly expanding populations caused.- As marginal cost of protection exceedvalue of marginal product of labor, newmanors formed. (3 points) What happened to wages and the prices of food and land? (Again, a graphical analysis is helpful) - More people meant increased demand for food in reemerging cities and towns. The price of good increases. (Fig.1)- Land increased in value over time from essential nothing to a very marketable commodity. The price of land increases. (Fig.2)- The supply of agricultural labor increased as did demand for it. We think the increase in supply exceeded the increase in Demand. Wages godown as population goes up because less demand for labor. (Fig.3)(3 points) Why did the population increase lead to the beginning of the end of the manorial system?- Development of markets lowers transaction costs of fixed rent contracts.- Land becomes more valuable relative to labor as labor is plentiful and now land is scarce.- Tenant farmers appear on the marginal, reclaimed lands of existing manors.- In more settled areas, tenancy farming became more common as lords commuted labor dues into fixed money payments.- Some regression back to manorialism in response to inflation which diminished the value of monetary rents.4. (5 pts) List the five points of the Malthusian Model discussed in class. - The primary resource is food.- The law of diminishing returns is inevitable. The cultivation of new landand the intensification of labor in response to demographic growth addsprogressively smaller increments to production for each additional unit of land or labor.- As population grows, it eventually strains on the food supply.- Eventually food becomes scarce and population growth must be “checked.”- Production or productivity increases provide only temporary relief. Anygains from invention or innovation are


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