Question
Please help me with this multiple choice 1-The area above the supply line and below the equilibrium price line shows Price Costs Consumer surplus Profits
Please help me with this multiple choice
1-The area above the supply line and below the equilibrium price line shows
Price
Costs
Consumer surplus
Profits
2-When the demand curve shifts leftward
Prices go down and quantity sold goes up
Prices go up and quantity sold goes down
Prices go up and quantity sold goes up
Prices go down and quantity sold goes down
3-The paradox of thrift says
"Thriftiness is good for the individual and the economy"
"Thriftiness is good for the individual, and bad for the economy"
"If we all invest, we all are poorer"
"One person's debt is another person's wealth."
4-Crowding out happens
When interest rates are below zero
When the government duplicates spending that would have happened
When deficits become unsustainable
When inflation is below zero
5-Fiscal policy is included in the
G component of GDP
C component of GDP
X component of GDP
I component of GDP
6-The marginal willingness to pay line line is also the
Demand line
The supply line
The equlibrium price line
The quantity sold line
7-When the demand curve shifts rightward and the supply curve shifts rightward,
Prices go down and we don't know what happens to quantity
We don't know what happens to price and quantity sold goes down
Prices go up and we don't know what happens to quantity
We don't know what happens to price and quantity sold goes up
8-One of the problems with monetary policy is
Debt
The multiplier
Deficits
Inflation
9-Canada's monetary policy is the responsibiliy of
International agreements
The Bank of Canada
The Liberal (Trudeau) government
The Federal Reserve
10-My friend wants to work full time as an actor, but he can only find part-time work. He is part of the group:
Informal economy
Discouraged workers
Out of the labour force
Hidden unemployed
11-When the demand curve shifts leftward and the supply curve shifts leftward,
Prices go down and we don't know what happens to quantity
We don't know what happens to price and quantity sold goes down
We don't know what happens to price and quantity sold goes up
Prices go up and we don't know what happens to quantity
12-Hidden unemployment includes
Unskilled workers
Discouraged workers
Skilled workers
Unpaid work
13-At the intersection of supply and demand
There is no deadweight loss
The producers lose money
The deadweight loss exceeds the gains from trade
The consumers lose consumer surplus
14-The unemployment rate measures
The percentage of people who are not working
The number of discouraged workers
The people in the labour force unable to find a job
The portion of the populaton unable to find a job
15-Imagine Tesla announces that they have invented a way to cure heart disease. We would expect:
The supply curve and demand curve to shift and price to remain the same.
The supply curve for Tesla shares to shift left and price to fall
The demand curve for Tesla shares to shift right and the share price to rise
The demand curve for Tesla shares to shift left and the share price to fall
16-When the demand curve shifts rightward and the supply curve shifts leftward,
Prices go down and we don't know what happens to quantity
We don't know what happens to price and quantity sold goes up
We don't know what happens to price and quantity sold goes down
Prices go up and we don't know what happens to quantity
17-The debt to GDP ratio in Canada has been
Increasing over the past two decades
reaching unsustatinable levels
Declining over the past two decades
greater than 100% for most of the past two decades
18-When there is an economic boom, the government should
Increase spending, even if that leads to a surplus
Decrease spending, even if that leads to a surplus
Increase spending, even if that leads to a deficit
Decrease spending, unless that leads to a deficit
19-Stay at home dads are counted as
Underemployed
Out of the labour force
Employed
Unemployed
20-The demand line for an elastic good shows
A large change in quantity for a large change in price
A large change in quantity for a small change in price
A small change in quantity for a large change in price
A small change in quantity for a small change in price
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