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When the price level rises as a result of a decrease in aggregate supply, it is called demand-pull inflation. Both short-run and long-run aggregate supply curves can shift to the right if the amount of regulations governing business decreases. The duration of unemployment is not as important as the amount of unemployment. Short-run equilibrium is determined when which two things intersect? O aggregate demand and long-run aggregate supply 0 short-run aggregate demand and long-run aggregate demand 0 aggregate demand and short run aggregate supply 0 short-run aggregate supply and long-run aggregate supply If additional units of output can be produced at constant opportunity cost, what will be the shape of the production possibilities curve? 0 a straight line with a negative slope O bowed outward away from the origin 0 positively sloped O bowed inward toward the origin Which of the following computer expenditures would be counted as consumption in GDP accounts? 0 Shawn buys a new computerto check his email and play computer games. 0 Kai. a Health Canada scientist, buys a new computer for her lab at work. 0 Matt leases a new computer for his graphic design company. 0 Asaf buys a new computer for his accounting consulting business. Suppose disposable income has changed. Which of the following marginal propensities to consume would have the greatest effect on consumption? After looking for a job for more than eight months, Serigne has become frustrated and stopped looking. What term do economists use to describe Segne? O a discouraged worker O structurally unemployed O frictionally unemployed 0 part of the labour force, but neither employed nor unemployed According to the rule of 70, if a nation's economy grows at a rate of 14 percent per year, in roughly how many years will national income double? What does GDP calculate? O the total dollar value of all sales transactions of final goods and services during a given period the market value of all final goods and services produced within the country during a given period the total revenue received by corporations for goods produced during a given period 000 the value of a nation's total assets What is the total labour force equal to? O the number of employed persons 0 the number of persons aged 15 and older in the population 0 the number of unemployed persons 0 the number of employed plus unemployed persons Which of the following could a recession result from? 0 an increase in short-run aggregate supply 0 a decrease in aggregate demand 0 an increase in aggregate demand 0 an increase in long-run aggregate supply How is the LRAS curve drawn? 0 as a vertical line 0 as a downward sloping curve O as a horizontal line 0 as an upward sloping curve Which example would be included in the calculated GDP? 0 a computer bought by Alket to help him keep track of his business clients O Marcos's purchase of $5000 worth of Bitcoin O Mike's purchase of a used a pickup truck 0 Deanna sells 310,00 worth of dog beds through her online business What will cause consumption to decrease and, as a result, aggregate demand to also decrease? O a tax cut 0 a tax increase 0 an optimistic business forecast of future income growth 0 an increase in consumer confidence Which of the following is a major macroeconomic goal of nearly every society? 0 increasing government tax revenue 0 maintaining stability of prices 0 equal distribution of resources 0 maintaining high levels of unemployment What is the measure most commonly used by economists to gauge a nation's standard of living? 0 consumption 0 real GDPpercapita 0 government expenditures 0 capital investment Suppose private consumption in Canada was 67 percent of GDP, investment was 14 percent, government purchases were 11 percent. exports were 12 percent. and imports were 4 percent. What would be the net exports as a percentage of GDP? 0 8 percent 0 8 percent 0 20 percent Howr do we measure aggregate expenditures? 0 equal to tax revenue minus government spending 0 the amount of money that is invested in the stock market 0 the revenue received by households in the factor market 0 total amount spent on final goods and services If the prices of inputs fall, what happens to short-run aggregate supply? 0 n shifts right. 0 It does not shift, but the economy moves up along the SRAS curve. 0 n shifts left. 0 It does not shift, but the economy moves down along the SRAS curve. Which of the following movements illustrates the concept of opportunity cost? 0 a movement from the production possibilities curve to its interior 0 a movement from the interior of the production possibilities curve to the frontier O a movement from a point on the production possibilities curve to the northeast O a movement along the production possibilities curve as production of one good falls in order to increase production of another