1) Where would you generally buy consumer nondurable goods?

a stock market

a dentist's office

a grocery store

a clothing store

2 )Which of the following changes in taxes would lead to the greatest increase in consumption?

Question 31 options:

a $20 000 decrease in taxes, if MPC equals 0.4

a $15 000 decrease in taxes, if MPC equals 0.5

a $30 000 decrease in taxes, if MPC equals 0.25

a $12 000 decrease in taxes, if MPC equals 0.7

3) Which of the following will cause the standard of living to decline?

the rate of population growth being less than the rate of growth of real GDP

the nominal GDP growing at a faster rate than real GDP

the nominal GDP growing at a slower rate than real GDP

the rate of population growth exceeding the rate of growth of real GDP

4) In 2017, what was the approximate real GDP per capita in Canada?

$25 000

$58 000

$51, 000

$36 000