Exam 1: understanding Evolving Economic Systems and Competition

If,in 2010,7.5 percent of a country's total work force was not working,but was actively seeking employment,this 7.5 percent represents which national figure?

____________________ policy refers to a government's program for controlling the amount of money in circulation.

The consumer price index (CPI)is partially composed of which of the following?

At the equilibrium point,quantity demanded equals quantity supplied.

When the economy is in a recession,many companies must lay off workers,causing which type of unemployment?

Mexico requires all foreign firms operating there to have a local business partner.This is an example of which of the following?

A ____________________ is a cooperative agreement between business firms.

The point at which quantity demanded equals quantity supplied is called the point of ____________________.

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

To bring inflation under control,which combination of unemployment and growth may be necessary?

Josh Loachim quit his job in advertising in Toronto and has moved to Calgary,where he is actively seeking employment.This is an example of which type of unemployment?

When 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?

What is the name of the business cycle that follows a recessionary one?

What is the definition of microeconomics?

What is the term used to describe what is happening when the government spends more on public transportation,and as a result,individuals spend less on private transportation?

What is the difference between a market economy and a command economy with respect to business ownership?

Think about all the restaurants that are located near your campus.You have probably noted some new ones appearing,and others closing because of lack of business.What type of competition exists in the restaurant business?

Suppose that 50 percent of the labour force in a country is involved in the agricultural sector,but the economic growth in the nation comes from industry and tourism.What type of unemployment would such a mismatch of ability and job requirements cause?

The ____________________ is the total monetary value of all goods and services produced within a nation annually.

The national debt is the accumulation of deficits that have occurred in the past as a result of expenditures exceeding tax revenues.