ECO209Y1 Study Guide - Midterm Guide: Output Gap, Shinny, Shortage
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R 2-4: the total time for this test is 1 hour and 45 minutes, aids allowed: a simple, non-programmable calculator, use pen instead of pencil. Enter your answer to each question in the table below. Table cells left blank will receive a zero mark for that question. Each question is worth 3 marks for a maximum of 36 possible marks. No deductions will be made for incorrect answers. D c d c d b a e d a d c: consider an economy without depreciation of the capital stock, without government transfer payments, and where personal income tax is the only source of government revenues. Shinny steel co. paid wages of ,000 and taxes of ,000, and bought ,000 worth of iron ore, coal, and other material inputs needed to produce the steel. Shinny steel"s contribution to gdp is: ,000, ,000, ,000, ,000, none of the above.
