Economics 1021A/B Study Guide - Midterm Guide: Real Wages, Nominal Interest Rate, Real Interest Rate

• School: Western University
• Department: Economics
• Course: Economics 1021A/B
• Professor: Terry Biggs

Document Summary

Instructions: the examination begins at 4:00 p. m. and ends at 6:00 p. m, check that your examination paper contains 14 pages, use a black pencil to complete your scantron form. Enter your section number, which is either 002 or 004: please hand in scantron form only. No breaks outside of the examination room will be allowed. Note: questions are printed on both sides of each page. Choose the one alternative that best completes the statement or answers the question. Gdp: final goods and services produced in canada by foreigners are imports, final goods and services produced abroad by canadians are part of canadian gdp. Figure 1: refer to figure 1, which shows the circular flow of expenditure and income for venus. 2008, a was , b was , c was and d was . How much is gdp: , , , , none of the above.