Question 1

What should the Bank of Canada do if it wants to increase the money supply?

Accepted Answer

A)  buy government securities 
B)  cut taxes 
C)  raise the discount rate 
D)  raise the reserve requirement 
A)  buy government securities 
B)  cut taxes 
C)  raise the discount rate 
D)  raise the reserve requirement

Question 2

One problem that plagued many communist economies was that the absence of free markets resulted in crippling shortages and surpluses of goods and services.

Accepted Answer

A) True 
 B)False

Question 3

What does macroeconomics focus on?

Accepted Answer

A)  the minor issues facing the national economy 
B)  the role of government 
C)  the small individual units operating within the economy 
D)  the major issues facing the national economy 
A)  the minor issues facing the national economy 
B)  the role of government 
C)  the small individual units operating within the economy 
D)  the major issues facing the national economy

Question 4

Government policies promoting free trade are consistent with the right to free choice, which is fundamental to capitalism.

Accepted Answer

A) True 
 B)False

Question 5

Pampered Pooch is a dog groomer in the area looking to increase productivity for the business. Currently, in an eight-hour day, Pampered Pooch can wash and groom 12 large dogs. How would the management of Pampered Pooch calculate productivity?

Accepted Answer

A)  by dividing the number of dogs groomed per day (12) by the amount of labour per day (8 hours) 
B)  by dividing the total weight of the dogs by 12, then multiplying the results by the number of hours of labour per day (8 hours) 
C)  by dividing 12 dogs by a 7-day work week and multiplying the result by 8 
D)  by dividing 8 hours by 12 dogs per day 
A)  by dividing the number of dogs groomed per day (12) by the amount of labour per day (8 hours) 
B)  by dividing the total weight of the dogs by 12, then multiplying the results by the number of hours of labour per day (8 hours) 
C)  by dividing 12 dogs by a 7-day work week and multiplying the result by 8 
D)  by dividing 8 hours by 12 dogs per day

Question 6

The bank rate is the interest rate the Bank of Canada charges on its loans to commercial banks.

Accepted Answer

A) True 
 B)False

Question 7

Which of the following is NOT a degree of competition?

Accepted Answer

A)  oligopolistic competition 
B)  natural competition 
C)  pure competition 
D)  monopolistic competition 
A)  oligopolistic competition 
B)  natural competition 
C)  pure competition 
D)  monopolistic competition

Question 8

Gross domestic product (GDP), as the measurement of the total value of goods and services, includes the output produced within households and output produced by illegal activities.

Accepted Answer

A) True 
 B)False

Question 9

When average prices increase more than 50 percent per month, it is known as disinflation.

Accepted Answer

A) True 
 B)False

Question 10

Which statement best describes the federal government in Canada?

Accepted Answer

A)  It consistently runs a budget surplus since it operates most of its enterprises at a profit. 
B)  It plays only a very minor role in the economy. 
C)  It is the nation's largest employer, providing jobs for many Canadians. 
D)  It has been very reluctant to regulate business behaviour. 
A)  It consistently runs a budget surplus since it operates most of its enterprises at a profit. 
B)  It plays only a very minor role in the economy. 
C)  It is the nation's largest employer, providing jobs for many Canadians. 
D)  It has been very reluctant to regulate business behaviour.

What should the Bank of Canada do if it wants to increase the money supply?

One problem that plagued many communist economies was that the absence of free markets resulted in crippling shortages and surpluses of goods and services.

What does macroeconomics focus on?

Government policies promoting free trade are consistent with the right to free choice, which is fundamental to capitalism.

Pampered Pooch is a dog groomer in the area looking to increase productivity for the business. Currently, in an eight-hour day, Pampered Pooch can wash and groom 12 large dogs. How would the management of Pampered Pooch calculate productivity?

The bank rate is the interest rate the Bank of Canada charges on its loans to commercial banks.

Which of the following is NOT a degree of competition?

Gross domestic product (GDP), as the measurement of the total value of goods and services, includes the output produced within households and output produced by illegal activities.

When average prices increase more than 50 percent per month, it is known as disinflation.

Which statement best describes the federal government in Canada?

Business Now: Change Is the Only Constant

Business Ethics and Social Responsibility: Doing Well by Doing Good

The World Market-Place: Business Without Borders

Business Formation: Choosing the Form That Fits

Small Business and Entrepreneurship: Economic Rocket Fuel

Accounting: Decision Making by the Numbers

Finance: Acquiring and Using Funds to Maximize Value

Financial Markets: Allocating Financial Resources

Marketing: Building Profitable Customer Connections

Product and Promotion: Creating and Communicating Value

Distribution and Pricing: Right Product, Right Person, Right Place, Right Price

Management, Motivation, and Leadership: Bringing Business to Life

Human Resource Management: Building a Top-Quality Workforce

Managing Information and Technology: Finding New Ways to Learn and Link

Operations Management: Putting It All Together

Business Communication: Creating and Delivering Messages That Matter

Labour Unions and Collective Bargaining

Business Law

Personal Finance

Filters

Exam 3: Economics: The Framework for Business

What should the Bank of Canada do if it wants to increase the money supply?

One problem that plagued many communist economies was that the absence of free markets resulted in crippling shortages and surpluses of goods and services.

What does macroeconomics focus on?

Government policies promoting free trade are consistent with the right to free choice, which is fundamental to capitalism.

Pampered Pooch is a dog groomer in the area looking to increase productivity for the business. Currently, in an eight-hour day, Pampered Pooch can wash and groom 12 large dogs. How would the management of Pampered Pooch calculate productivity?

The bank rate is the interest rate the Bank of Canada charges on its loans to commercial banks.

Which of the following is NOT a degree of competition?

Gross domestic product (GDP), as the measurement of the total value of goods and services, includes the output produced within households and output produced by illegal activities.

When average prices increase more than 50 percent per month, it is known as disinflation.

Which statement best describes the federal government in Canada?

Business Now: Change Is the Only Constant

Business Ethics and Social Responsibility: Doing Well by Doing Good

The World Market-Place: Business Without Borders

Business Formation: Choosing the Form That Fits

Small Business and Entrepreneurship: Economic Rocket Fuel

Accounting: Decision Making by the Numbers

Finance: Acquiring and Using Funds to Maximize Value

Financial Markets: Allocating Financial Resources

Marketing: Building Profitable Customer Connections

Product and Promotion: Creating and Communicating Value

Distribution and Pricing: Right Product, Right Person, Right Place, Right Price

Management, Motivation, and Leadership: Bringing Business to Life

Human Resource Management: Building a Top-Quality Workforce

Managing Information and Technology: Finding New Ways to Learn and Link

Operations Management: Putting It All Together

Business Communication: Creating and Delivering Messages That Matter

Labour Unions and Collective Bargaining

Business Law

Personal Finance

Filters