Nominal Income - Answer-Value of today's production measured in prices today Real national income - Answer-Value of today's production measured in base prices / base-period dollars Measures total output Potential GDP - Answer-How much economy could produce if operating normally Actual GDP - Ans...
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In each of the four expenditure categories, national income accounts measure ________ expenditures, while the theoretical model of the economy deals with ________ expenditures. A. actual; desired B. desired; actual C. induced; exogenous D. endogenous; exogenous E. actual; autonomous -Answer- A....
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Add to cartIn each of the four expenditure categories, national income accounts measure ________ expenditures, while the theoretical model of the economy deals with ________ expenditures. A. actual; desired B. desired; actual C. induced; exogenous D. endogenous; exogenous E. actual; autonomous -Answer- A....
Consider the circular flow of expenditure and income in the Canadian economy. Which of the following is an injection into the circular flow? A. You put $500 into your TFSA (tax−free savings account). B. Bombardier imports machine parts from Germany. C. Loblaws pays corporate income tax to the f...
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Add to cartConsider the circular flow of expenditure and income in the Canadian economy. Which of the following is an injection into the circular flow? A. You put $500 into your TFSA (tax−free savings account). B. Bombardier imports machine parts from Germany. C. Loblaws pays corporate income tax to the f...
Canada's unemployment rate has been as low as ________ in the 1960s and as high as ________ during the recession in the early 1980s. A. 2.4%; 10% B. 5.5%; 17% C. 2.0%; 15% D. 4.6%; 14% E. 3.4%; 12% -Answers- E. 3.4%; 12% If one Canadian dollar can be exchanged for 0.5 euros, we say that the...
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Add to cartCanada's unemployment rate has been as low as ________ in the 1960s and as high as ________ during the recession in the early 1980s. A. 2.4%; 10% B. 5.5%; 17% C. 2.0%; 15% D. 4.6%; 14% E. 3.4%; 12% -Answers- E. 3.4%; 12% If one Canadian dollar can be exchanged for 0.5 euros, we say that the...
Cyclical unemployment is associated with which of the following features of the labour market - Answers-An output level different from the economy's potential output In December 2022, Ontario's working age (15+) population included 7,748,000 people that were classified asemployed, 366,000 peopl...
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Add to cartCyclical unemployment is associated with which of the following features of the labour market - Answers-An output level different from the economy's potential output In December 2022, Ontario's working age (15+) population included 7,748,000 people that were classified asemployed, 366,000 peopl...
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