9. How has productivity fluctuated in Canada since 1973?

CH IX:

10. Describe the phases of the business cycle?

11. What are the different types of unemployment?

CH X:

12. How do changes in income affect consumption and saving?

13. How do changes in real interest rates affect investment?

CH XII:

14. Define aggregate demand

15. Define aggregate supply

CH XIII:

16. Give a brief definition of fiscal policy? What are its economic goals?

17. Give two examples of expansionary fiscal policy. What will be the effect on government surplus/deficit?

18. Describe Canada's Economic Action Plan to combat the Great Recession of 2008 - 2009.

19. During which phases of the business cycle would fiscal policies that reduce budget deficits (or even increase surpluses) be appropriate?

CH XIV:

20. What are the three functions that a commodity must fulfill to be useful as money?