Multiple Choice Questions

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always leads to a surplus The decisions of firms and households are unexplainable by the circular flow model made after intense negotiations made independently of one another coordinated by markets controlled by the government Factors of production are the goods that individuals buy and use to provide personal enjoyment “gifts of nature ” used to produce goods and services productive resources used by government to increase the productivity goods that businesses buy and use to produce productive resources productive resources used to produce goods and services The personal distribution of income in Canada allows us to conclude that the richest 20 percent of households earn 67 percent of the richest 20 percent of households earn almost 43 percent of income the poorest 60 percent of households earn almost 50 percent of income the poorest 20 percent of households earn approximately 20 percent of income is distributed equally Suppose you are trying to decide whether to study economics

note only one answer is correct for each question Examples Example 1 : Where is New York In United States In UK In Mexico In Canada In France Example 2 : Where is New York In UK In US In Mexico In France In Canada Which of the following events will not shift a nation ‘s PPF inward major civil and political unrest advancements in technology stiffer environmental regulations major interruptions in international trade natural disasters , such as earthquakes or volcanoes In the circular flow model , consumption goods are bought and sold in the goods market supermarket factor markets government market financial market In 2003 , provincial and municipal governments in Canada spent about 110 billion 500 billion 900 billion 456 billion 290 billion A price ceiling is effective only if the price ceiling is above the equilibrium price leads to a surplus if the price ceiling is below the equilibrium price always leads to a shortage leads to a shortage if the price ceiling is below the equilibrium price

You should make your decision by comparing the study economics only if the the pick a more challenging course of study make your decision by comparing the marginal cost to the marginal benefit definitely try it Economics is the study of how the government makes choices for individuals and businesses choices are made within the constraints of scarcity choices are made with unlimited resources people choose to use their infinite resources the government increases choices and reduces scarcity through government programs Canada possesses a large amount of human capital

Paper Topic: Multiple Choice Questions Welcome to Macroeconomics Multiple Choice Questions choose the best answer for each of the choice questions

No explanation work is necessary However , you may not answer any of the questions by guessing as wrongly answered question (s ) will be returned to you for correction (s ) and detailed explanation (s review the Macroeconomics Electronic Book Chapters Choose the best answer and highlight or underline it

Hence , in Canada there is a

You are only required to highlight or underline the best answer for each question

99

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