Question 1: How has productivity fluctuated in Canada since 1973?
Question 2: Describe the phases of the business cycle?
Question 3: What are the different types of unemployment?
Question 4: How do changes in income affect consumption and saving?
Question 5: How do changes in real interest rates affect investment?
Question 6: Define aggregate demand.
Question 7: Define aggregate supply.
Question 8: Give a brief definition of fiscal policy? What are its economic goals?
Question 9: Give two examples of expansionary fiscal policy. What will be the effect on government surplus/deficit?
Question 10: Describe Canada's Economic Action Plan to combat the Great Recession of 2008 - 2009.
Question 11: During which phases of the business cycle would fiscal policies that reduce budget deficits (or even increase surpluses) be appropriate?
Question 12: What are the three functions that a commodity must fulfill to be useful as money?