Chapter 27 Expenditure Multipliers: The Keynesian Model
27.1 Fixed Prices and Expenditure Plans
1) Disposable income is
A) used for consumption only.
B) aggregate income minus taxes plus transfer payments.
C) aggregate income plus transfer payments.
Chapter 25 The Exchange Rate and the Balance of Payments
25.1 The Foreign Exchange Market
1) Foreign currency is
A) the market for foreign exchange.
B) the price at which one currency exchanges for another currency.
C) foreign notes, coins and bank deposi
Chapter 22 Economic Growth
22.1 The Basics of Economic Growth
1) Economic growth is
A) a sustained expansion of production possibilities measured as the increase in nominal GDP
over a given period.
B) a sustained expansion of consumption expenditure over
Chapter 24 Money, the Price Level, and Inflation
24.1 What Is Money?
1) Money is
A) equivalent to barter.
B) currency plus credit cards plus debit cards.
C) the same as gold.
D) a means of payment.
E) currency plus coins.
2) Which of the following best fi
Chapter 26 Aggregate Supply and Aggregate Demand
26.1 Aggregate Supply
Use the figure below to answer the following questions.
1) Refer to Figure 26.1.1. Which graph illustrates what happens when factor prices decrease?
ECON 1000 - Chapter 2 Lecture
Boundary between those combinations of goods and services that can be produced
We focus on 2 goods at a time
0 Everything else remains constant - ceteris parabus
0 Bowed outwards because:
0 Everything on the curve is maxi
ECON 1000 Chapter 2
Productions Possibility Frontier
0 Boundary between what you can produce and what you cannot
0 Model economy where there are only 2 goods produced
0 We can achieve production efciency (producing at the lowest possible cost) if we produ
Faculty of Liberal Arts and Professional Studies (LA&PS)
Department of Economics
Honours BA Economics (2016/17 Program Checklist)
GENERAL EDUCATION - 21 Credits
21 credits at the 1000 level, chosen from 3 different general