Chap 0310ceMacro-37-39

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School
Northern Alberta Institute of Technology **We aren't endorsed by this school
Course
ECON ECON-111
Subject
Economics
Date
Nov 19, 2023
Pages
3
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Version 1 37 A) 50 B) 80 C) 400 D) 4,000 E) 8,000 123) Which of the following are legitimate questions about Canada's economic growth? A) How is GDP measured? B) What are the causes of economic growth? C) Is economic growth sustainable? D) Is more economic growth better than less growth? E) All of these above. 124) Which of the following are included in the factor of production labour? A) A skilled surgeon. B) A construction labourer. C) A symphony musician. D) A bank manager. E) All of these above. 125) If you were given the information that Canada's stock of money is $900 billion and its national income is $2400 billion what would you be able to calculate? A) The velocity of national income. B) The velocity of money. C) Both the velocity of national income and the velocity of money. D) An estimation of the government's tax revenue.
Version 1 38 126) If Canada's stock of money is $900 billion and its national income is $2400 billion what is the velocity of money? A) 2.5 B) 2.67 C) 3 D) 3.67 127) What is the term for Unemployment Insurance payments and Canada Pension Plan payments? A) subsidy payments. B) government spending on goods and services. C) transfer payments. D) negative taxes. 128) If I + G + X > S + T + IM what is true? A) GDP will decrease. B) A decrease in S has the same effect as an increase in I. C) An increase in G has the same effect as a decrease in T. D) GDP will increase. 129) Which of the following would not indicate equilibrium?
Version 1 39 A) Value of production = sales revenue = aggregate expenditures. B) Value of production = cost of production (including profits) = total income. C) I + G + X > S + T + IM. D) I + G + X = S + T + IM. 130) Which of the following is true? A) Gross investment increases the capital stock. B) Depreciation increases the capital stock. C) Net investment equals gross investment plus depreciation. D) Gross investment, net investment and capital stock are all flows. 131) What is the difference between net domestic product and net national product? A) What is the difference between net domestic product and net national product? B) Indirect taxes. C) + or - net foreign factor income. D) Taxes net of subsidies. 132) Which of the following is not a source of economic growth? A) An increase in the level of human capital. B) An increase in the level of physical capital. C) Effective control of inflation. D) An increase in the rate of technological change. E) The discovery of more natural resources.
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