ECON1022 - Chapter 10

ECON1022 - Chapter 10

University

5 Qs

quiz-placeholder

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ECON1022 - Chapter 10

ECON1022 - Chapter 10

Assessment

Quiz

Social Studies

University

Medium

Created by

Phuong Vu

Used 6+ times

FREE Resource

5 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If the price level rises and the money wage rate remains constant, the quantity of real GDP supplied ________ and there is a movement along the _______ aggregate supply curve.

increases; short-run

increases; long-run

does not change; short-run

does not change; long-run

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following statements illustrate fiscal policy?

The Bank of Canada has increased its reserve requirement.

The Government of Canada has proposed a hike in the corporate tax rate.

A stronger dollar has lowered Canadian exports.

A rise in the expected future profits has increased Canadian investments.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following economies is facing a stagflation?

The European economy is experiencing a decrease in real GDP for three quarters and a rise in the price level

The Chinese economy is facing a rising labour cost.

The Bank of Canada is purchasing government securities to lower the interest rate.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Toyota and Honda build additional plants in Canada. This event ________short-run aggregate supply and _______ long-run aggregate supply.

increase; does not change

does not change; does not change

does not change; increases

increases; increases

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Long-run aggregate supply is the relationship between the quantity of real GDP supplied and the price level when real GDP equals potential GDP

TRUE

FALSE