Question 13 (1 point) If we were to consider the COVlD-19 pandemic to be a permanent negative supply shock, then the economy ________ . O a) in the long-run, the output gap returns to zero only if the central bank raises interest rates 0 b) the long-run equilibrium level of output depends on whether and how the central bank responds O c) there is no permanent effect on ination if the central bank raises interest rates 0 d) all of the above Question 17 (1 point) The total fertility rate was most significantly increased by the Green Revolution. a) True (b) False O c) UncertainQuestion 18 (1 point) If prices for a food basket increased by 123% from the base year, the price index for the year of interest would be... Question 19 (1 point) Which of the following are current limiting factors for future human population growth? 0 a) Oxygen levels in the atmosphere and availability of sodium chloride 0 b) Fossil fuels and carbon dioxide production 0 c) Availability of oxygen and water 0 d) Pollution and land for agriculture 0 e) Atmospheric carbon dioxide concentration Question 20 (1 point) Modern Monetary Theory holds that governments need to raise new taxes to finance that deficit spending to achieve full employment. O a) True b) False O c) UncertainQuestion 21 (1 point) Suppose that Sue's marginal propensity to consume is 0.7. If her income increases by $1,000, we would expect her consumption to increase by about... 0 a) $7. 0 b) $700. 0 c) $1,000. Q d) $70. 0 e) $140. Question 23 (1 point) Using the table above, what are the unweighted aggregate price indicies for the years 1 and 2, respectively, if the base year is year 1? O a) o;72 O b) 1;72 O c) 1:28 0 d) 72;1 0 e) 72;104 Question 24 (1 point) When government spending creates less (private) investment, this is called a) crowding in O b) the budget multiplier O c) crowding out O d) fiscal policy O e) monetary policyQuestion 25 (1 point) When the Liberal government headed by Justin Trudeau tabled its 2019 federal budget, it announced that Canada would adopt a formal inflation target. ( a) True ( b) False O c) UncertainQuestion 26 (1 point) Suppose the government increases spending by $200 million but at the same time increases taxes by $200 million. According to the (simple) macroeconomic model presented in class, by how much would equilibrium output change? 0 a) Output would decrease by $200 million 0 b) There will be no change in output 0 c) Output would increase by less than $200 million 0 d) Output would increase by at least $200 million Question 27 (1 point) Which revolution stimulated exponential growth of the human population? 0 a) The Global Revolution 0 b) The Neolithic Revolution 0 c) The Green Revolution 0 d) The Medical Revolution 0 e) The Industrial Revolution Question 28 (1 point) Canada's monetary policy operates under a single mandate. O a) True 0 b) False O c) Uncertain Question 29 (1 point) Canada has experienced a marked decline in replace-level fertility since World War II. O a) True 0 b) False O c) Uncertain Question 30 (1 point) Which of the following is true with a voluntary survey when compared to a mandatory census? O A) A sizeable proportion of people do not answer such surveys. O B) If people refuse to answer at random, then non-response would not cause a problem; we just would not get as large a sample. 0 C) We would expect more variation in the mean incomes we calculate, but they would not be systematically different from the population mean. 0 D) A), B), and C) are all true. 0 E) A), B), and C) are all false. Question 31 (1 point) Which one of the following is not an example of expansionary scal policy? 0 a) Decreasing government spending on education 0 b) Decreasing federal income tax rates 0 c) Decreasing local property taxes 0 d) Increasing government spending on the military 0 e) Increasing government spending on unemployment insurance Question 32 (1 point) Which of the following is TRUE? O a) Since the 19805, the average incomes of all recent immigrants has increased due to the substantial number of immigrants in the family reunication and refugee classes that have to pass the points system. O b) Since the 19805, the average incomes of all recent immigrants has increased due to the lower number of immigrants in the family reunication and refugee classes that did not have to pass the points system. O c) Since the 20005, the average incomes of all recent immigrants has lowered due to the substantial number of immigrants in the family reunication and refugee classes that did not have to pass the points system. Q d) Since the 19905, the average incomes of all recent immigrants has lowered due to the substantial number of immigrants in the family reunication and refugee classes that did not have to pass the points system. 0 e) Since the 19805, the average incomes of all recent immigrants has lowered due to the substantial number of immigrants in the family reunication and refugee classes that did not have to pass the points system. Question 34 (1 point) The projected percentage of the Canadian population in dependent age groups (64) for 2045 is approximately ______ . O a) 25% O b) 35% O c) 45% Q d) 55% 0 e) 65% Question 35 (1 point) The short-term multipliers for infrastructure are _______ when compared to a reduction in corporate income taxes. O a) More or less equal O b) Unknown 0 c) Near 1 Q d) Higher O e) Lower Question 36 (1 point) Which of the following human traits are typical of K-strategists? O a) Potential for rapid population growth 0 b) Ability to modify their environment to suit their needs 0 c) Ability to relocate and thrive Q d) Ability to outcompete other organisms 0 e) Parental care of long duration