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econ1010_mid_1_a_2013_sol.pdf-Exam Name___________________________________ MULTIPLE CHOICE. Choose the

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Parkin/Bade, Economics: Canada in the Global Environment, 8e Chapter 22 Economic Growth 22.1 The Basics of Economic Growth 1) Economic growth is A) a sustained expansion of production possibilities measured as the increase in nominal GDP over a given period. B) a sustained expansion of consumption expenditure over a given period. C) always accompanied

ECON | 1010 | Prin of Econ Macroeconomics | lecture notes | Parkin/Bade  Economics: Canada

© 2013 Pearson Canada With the numbers in Figure 27.5, the slope of the AE curve is 0.75, so the multiplier is  Y ÷  A = 1 ÷  1  0.75) = 1 ÷  0.25) = 4. When there are no income taxes and no imports, the slope of the AE curve equals the marginal propensity to consume, so the multiplier is Multiplier = 1 ÷  1  MPC ). But 1 – MPC = MPS , so the multiplier is also Multiplier = 1 ÷ MPS

Parkin/Bade, Economics: Canada in the Global Environment, 8e 8) Which of the following statements about Canada's international trade in 2010 is correct? A) The value of Canada's imports exceeded the value of Canada's exports. B) The value of Canada's exports was about 45 percent of the value of total expenditure in Canada. C) Canada imported only goods. D

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