Exam 1: Introduction to Macroeconomics and the Great Recession

Over the past 20 years,purchases of foreign financial assets by Canadian investors has

Which of the following statements about economic analysis is true?

Explain the difference between correlation and causation.

All of the following statements would make a reasonable hypothesis to test except

If you were building a macroeconomic model that explores the effect of an increase in income tax rates on the size of the labour force,the endogenous variable(s)would be

The actions that the Bank of Canada takes to manage the money supply and interest rates to pursue macroeconomic policy objectives refer to

The gap between Canadian GDP per capita and GDP per capita in other high-income countries,such as the United States and Japan,is ________,and the gap between the high-income countries and the low-income countries is ________.

All of the following are part of an economic model,except

What is the difference between positive analysis and normative analysis?

Explain how the "euro crisis" could potentially affect Canadian exports.

In building an economic model,variables that will be explained by the model are referred to as ________ variables.

If you were building a macroeconomic model that explores the effect of the aging population on the needed expenditure for social security and health care,the exogenous variable(s)would be the

Economists measure the "openness" of an economy in terms of

What is long-run economic growth and how is it measured?

In Canada,the inflation rate during the past 25 years

China has recently been experiencing rapid economic growth,and current Chinese real GDP per capita is

The business cycle is usually illustrated using movements in

Changes in ________ that are intended to achieve macroeconomic policy objectives refer to fiscal policy.

The actions that the Bank of Canada takes to ________ to pursue macroeconomic policy objectives refer to monetary policy.

In Canada,most periods of very high inflation occurred