Exam 2: Economics Evolving Systems

Laron Kelly recently quit his job as a car salesperson and is now trying to find a job with another car dealership.This is an example of which type of unemployment?

Which market structure is an ideal and does not really exist?

Structural unemployment is unemployment that results from which of the following circumstances?

When the government raises taxes on consumers and businesses,it is dealing with which type of policy?

Last year,a mother in a small African nation could buy a pound of flour for the Canadian equivalent of $1.30.Six months ago,an identical pound of flour cost $3.40.Today she would need $5.60 to buy that pound of flour.This example of the general upward movement of prices is called which of the following?

The higher the price of a good or service,the greater the amount a producer is willing to supply.

The relationship of the inputs and outputs of households,businesses,and governments can be graphically explained through the use of which figure?

The higher the price of a good or service,the greater the quantity demanded.

A manager in the life insurance industry examining the national level of personal income,the unemployment rate,interest rates,inflation,and death statistics would be looking at which of her company's environments?

Which direction represents the slope of the demand curve?

Every time Tom buys a litre of milk he gets a stamp,which he sticks on a card he carries in his wallet.When he has 10 stamps,he gets a free litre of milk.This sort of program to encourage repeat business is a good example of which of the following?

Assume the GDP in Argentina increased by 28 percent in 2010.The economists would adjust the current market prices to take into account inflated values.This adjusted GDP is called which type of the nation's GDP?

When Mary Robb purchased a dozen cupcakes for her son's birthday party,she was pleasantly surprised to find the box contained 13 cupcakes instead of the 12 she had paid for.The bakery used this technique to accomplish which of the following?

It is difficult to enter a monopolistic competition market structure.

Which of these is an index of the prices of a shopping basket of goods and services as published monthly by Statistics Canada?

If one of the reasons for the growing inflation rate is due to increases in production costs of goods and services that occurred as a result of a decline in a suitable labour force,this would be an example of which type of inflation?

Which type of inflation is triggered by increases in production that push up the costs of final goods and services?

If Parks Canada spends money on promoting the use of national parks as perfect sites for a summer vacation,then motels,campgrounds,and other tourist attractions in the private sector may become less attractive to consumers.If,as a result of the promotion,consumers spent more money on trips to the national parks and less money in the private sector for their vacations,what would have occurred?

The implementation of a contractionary policy by the Bank of Canada would result in which of the following?

Full employment means all those who want to work are employed.