100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
Test Bank for Macroeconomics: Canada in the Global Environment, 11th edition by Parkin CA$59.24
Add to cart
Quickly navigate to
Preview
  2.  
  3. Macroeconomics
  4.  
  5. Macroeconomics
  6.  
  7. Macroeconomics

Exam (elaborations)

Test Bank for Macroeconomics: Canada in the Global Environment, 11th edition by Parkin

2 reviews
 276 views  10 purchases

Test Bank for Macroeconomics: Canada in the Global Environment, 11th edition 11ce by Michael Parkin, Robin Bade. Full Chapters test bank are included - Chapter 1 to 15 What Is Economics? The Economic Problem Demand and Supply Measuring GDP and Economic Growth Monitoring Jobs and Inflation E...

[Show more]

Preview 2 out of 661  pages

Document information

  • October 3, 2023
  • 661
  • 2023/2024
  • Exam (elaborations)
  • Questions & answers

Subjects

Written for

All documents for this subject (472)

2  reviews

review-writer-avatar

By: nballinger2439 • 10 months ago

review-writer-avatar

By: jackwhitewvh • 11 months ago

Seller

avatar-seller
StepsSol

Reviews received

Content preview

Macroeconomics: Canada in the Global Environment, 11e (Parkin)
Chapter 1 What Is Economics?

1.1 Definition of Economics

1) In a world characterized by scarcity
A) all goods are free.
B) opportunity cost is zero.
C) we are not limited by time.
D) individuals need not work to obtain goods.
E) people must make choices among alternatives.
Answer: E
Diff: 1 Type: MC
Topic: Definition of Economics

2) Which of the following is the best definition of economics?
A) the study of how a provincial government allocates tax dollars
B) the study of how consumers spend their income
C) the study of how producers decide what inputs to hire and what outputs to produce
D) the study of how individuals, businesses, governments, and entire societies make choices as
they cope with scarcity and the incentives that influence and reconcile those choices
E) the study of how consumers and producers meet each other in the market
Answer: D
Diff: 1 Type: MC
Topic: Definition of Economics

3) Which of the following is a microeconomic topic?
A) the reasons why a consumer buys less honey
B) the reasons why the average price level in a country falls
C) the cause of increasing unemployment
D) the effect of the government budget deficit on inflation
E) the reasons why the labour force in a country decreases
Answer: A
Diff: 1 Type: MC
Topic: Definition of Economics

4) The study of how wages are set for New Brunswick teachers is classified as
A) a macroeconomic topic.
B) a microeconomic topic.
C) economics of social interest.
D) economics of private interest.
E) normative economics.
Answer: B
Diff: 1 Type: MC
Topic: Definition of Economics



1

, 5) Which of the following newspaper headlines concerns a macroeconomic issue?
A) Why are people buying more SUVs and fewer minivans?
B) How would a tax on e-commerce affect chapters.indigo.ca?
C) How would an unexpected freeze in Oxford, Nova Scotia change the price of blueberries in
the Maritimes?
D) Why is the U.S. economy experiencing slow growth?
E) Why do grain producers purchase less pesticides?
Answer: D
Diff: 1 Type: MC
Topic: Definition of Economics

6) The branch of economics that studies the choices of individuals and businesses is
A) macroeconomics.
B) microeconomics.
C) positive economics.
D) normative economics.
E) social economics.
Answer: B
Diff: 1 Type: MC
Topic: Definition of Economics

7) Each of the following would be considered a macroeconomic topic except
A) the reasons for a decrease in the unemployment rate.
B) the cause of recessions.
C) the effect of the government budget deficit on inflation.
D) the determination of aggregate income.
E) the selection of production techniques.
Answer: E
Diff: 2 Type: MC
Topic: Definition of Economics

8) Complete the following sentence. Macroeconomics
A) is primarily concerned with the operation of individual markets in the economy.
B) deals mainly with the economic behaviour of households.
C) is the only part of economics to deal with government decisions.
D) is primarily concerned with the behaviour of the stock market.
E) is the study of the performance of the national economy and the global economy.
Answer: E
Diff: 2 Type: MC
Topic: Definition of Economics




2

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller StepsSol. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for CA$59.24. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

50843 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
CA$59.24  10x  sold
  • (2)
Add to cart
Added