Exam 3: Economic Challenges Facing Contemporary Business

If the number of suppliers of a particular product increases, so should the quantity supplied, and the price should fall.

The cost of the raw materials used to produce a product falls. The supply curve will likely shift down and to the left.

Individual and business decisions are ______ by economic conditions and, in turn, economic conditions are ______ by their decisions.

Microeconomics and macroeconomics are interrelated.

______ is a disadvantage in globalization.

What is fiscal policy? How does fiscal policy affect economic conditions?

______ provides a running measure of consumer price changes.

The two major policy tools available for controlling economic activity are ______.

The government uses fiscal policy to make decisions about increasing or decreasing the supply of money in the country. Monetary policy, on the other hand, is used by the government to make spending and taxation decisions.

Monetary policy ______.

The core inflation rate includes the prices of all goods and services.

Which of the following best describes your local cable TV company?

Not-for-profit organizations must make economic decisions.

The federal government raises corporate income tax rates in order to reduce the budget deficit. This change will likely ______ economic activity, which is an example of ______ policy.

Fiscal policy is used to increase or decrease the money supply, as well as change banking requirements and interest rates.

Many of the gains in Canadian productivity can be attributed to ______.

As technological communication expands, customer service will become less important in the global economy.

Concerning a balanced budget, all of the following statements are correct EXCEPT

Which of the following could developing countries do, in order to order to promote growth in their economies?

The main sources of funds to pay for the government's budget are taxes, fees charged by the government and ______.