Practice saq questions for the october 2011 mgta03 mid-term test. The following 4 questions have all been used in mgta03 tests and exams over the past several years. They are similar in length and complexity to the questions that will be on the mid-term test. The answers can be found by reading the textbook and the class notes. Identify the degree of competition that exists in the canadian banking industry. You must explain and justify your response by listing four features of this degree of competition. Give example of industry or product that is sold in a monopolistically competitive industry. Explain and justify by identify at least four features of a monopolistically competitive market. One of the reasons that per capita gdp in canada lags behind that of the united states is that labour productivity in the united states is higher. Identify three ways that labour productivity in canada could be improved.