100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Test Bank for Macroeconomics for Life, Smart Choices for All, 3rd Canadian Edition by Cohen - 2025 Published (All Chapters included) CA$43.56
Add to cart

Exam (elaborations)

Test Bank for Macroeconomics for Life, Smart Choices for All, 3rd Canadian Edition by Cohen - 2025 Published (All Chapters included)

 1 view  0 purchase

Complete Test Bank for Macroeconomics for Life, Smart Choices for All, 3rd Canadian Edition by Avi J. Cohen ; ISBN13: 9780137656547...(Full Chapters included and organized in reverse order from Chapter 15 to 1)...1.What's in Economics for You? Scarcity, Opportunity Cost, Trade, and Models 2.Making...

[Show more]

Preview 4 out of 741  pages

  • December 23, 2024
  • 741
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
All documents for this subject (1)
avatar-seller
mizhouubcca
TEST BANK



Macroeconomics for Life, Smart
Choices for You, 3rd Canadian
Edition by Avi J. Cohen



Complete Chapter Test Bank
are included (Ch 1 to 15)




** Immediate Download
** Swift Response
** All Chapters included

,Table of Contents are given below




1.What's in Economics for You? Scarcity, Opportunity Cost, Trade, and Models

2.Making Smart Choices: The Law of Demand

3.Show Me the Money: The Law of Supply

4.Coordinating Smart Choices: Demand and Supply

5.Are Your Smart Choices Smart For All? Macroeconomics and Microeconomics

6.Up Around the Circular Flow: Measuring GDP and Living Standards

7.Do Macroeconomics Dreams Come True? Potential GDP, Economic Growth, and Business

Cycles

8.Cost of (Not) Working and Living: Unemployment and Inflation

9.Skating to Where the Puck Is Going: Aggregate Supply and Aggregate Demand

10.What's Behind Aggregate Demand? The Aggregate Expenditure Model and Multipliers

11.Trading Dollars for Dollars? Exchange Rates and Payments with the Rest of the World

12.Steering Blindly? Money, Monetary Policy, and the Bank of Canada

13.Spending Others' Money: Fiscal Policy, Deficits, and National Debt

14.Are Sweatshops All Bad? Globalization and Trade Policy

15.Hands-Off and/or Hands-On? Controversies in Macroeconomics

,The test bank is organized in reverse order, with the last chapter displayed first, to ensure that all
chapters are included in this document. (Complete Chapters included Ch15-1)

Macroeconomics for Life: Smart Choices for All?, 3Ce (Cohen)
Chapter 15 Hands-Off and/or Hands-On?

15.1 Will the Circle Be Unbroken? Say's Law and the Fundamental Macroeconomic Question

1) Say's Law states that
A) demand creates its own supply.
B) demand exceeds supply.
C) supply exceeds demand.
D) prices are determined by producers.
E) supply creates its own demand.
Answer: E
Diff: 1 Type: MC
Skill: Recall
Objective: 15.1 Describe the fundamental macroeconomic question and the Hands-Off and
Hands-On positions on government policy.

2) Households spend the money earned
A) in output markets to supply products and services in input markets.
B) in input markets to buy products and services in output markets.
C) in input markets to supply products and services in input markets.
D) to pay for products and services after negotiating their prices in markets.
E) in output markets to buy products and services in input markets.
Answer: B
Diff: 2 Type: MC
Skill: Recall
Objective: 15.1 Describe the fundamental macroeconomic question and the Hands-Off and
Hands-On positions on government policy.

3) According to Keynes,
A) Say's Law is a "special theory."
B) macroeconomic theory is about the short run.
C) macroeconomic theory is about the long run.
D) Say's Law is not a "general theory."
E) all of these choices are correct.
Answer: E
Diff: 2 Type: MC
Skill: Recall
Objective: 15.1 Describe the fundamental macroeconomic question and the Hands-Off and
Hands-On positions on government policy.




1

, 4) J. B. Say's focus on the
A) short run is consistent with the view that markets self-adjust.
B) short run is consistent with the view that markets fail often.
C) long run is consistent with the view that markets self-adjust.
D) long run is consistent with the view that markets fail often.
E) short run is consistent with Adam Smith's invisible hand.
Answer: C
Diff: 1 Type: MC
Skill: Recall
Objective: 15.1 Describe the fundamental macroeconomic question and the Hands-Off and
Hands-On positions on government policy.

5) Keynes's focus is on the
A) short run and is consistent with the view that markets self-adjust.
B) short run and is consistent with the view that markets fail often.
C) long run and is consistent with the view that markets self-adjust.
D) long run and is consistent with the view that markets fail often.
E) short run and is consistent with Adam Smith's invisible hand.
Answer: B
Diff: 1 Type: MC
Skill: Recall
Objective: 15.1 Describe the fundamental macroeconomic question and the Hands-Off and
Hands-On positions on government policy.

6) In microeconomics, markets fail due to
A) negative externalities.
B) positive externalities.
C) inequality.
D) economies of scale.
E) all of these choices are correct.
Answer: E
Diff: 1 Type: MC
Skill: Recall
Objective: 15.1 Describe the fundamental macroeconomic question and the Hands-Off and
Hands-On positions on government policy.

7) In macroeconomics, signs of market failure include
A) unemployment.
B) slow growth.
C) inflation.
D) constant living standards.
E) all of these choices are correct.
Answer: E
Diff: 1 Type: MC
Skill: Recall
Objective: 15.1 Describe the fundamental macroeconomic question and the Hands-Off and
Hands-On positions on government policy.
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 mizhouubcca. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for CA$43.56. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

52355 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$43.56
  • (0)
Add to cart
Added