40 true/false questions and 60 multiple choice questions in 180 minutes

Question Description

Below are similar questions:

1) An economy faces a cyclical unemployment of 2%. If the actual GDP is $800 billion, what is the potential GDP?

Select one:

a. $760 billion

b. $2000 billion

c. None of the above

d. $840 billion

2) Bank of Canada’s goal is to keep inflation rate between 1%-3%.

True or False

3) National income is not the same as GDP

True or False

4) To keep inflation low, Bank of Canada usually takes expansionary monetary policy

True or False

5) What is the national income at equilibrium of a country for which the aggregate expenditure function is estimated as: AE=500+0.5Y

A.500

B.1000

C.Can not be determinded

6) Under what circumstances will the AE function shift downward?

A. Income rises

B. Income falls

7) What is the portion of disposable income which is not spent on consumption?

A. Investment

B. Saving

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