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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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