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chapter 29.doc

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Department
Economics
Course
ECON 1010
Professor
Steven Edwards
Semester
Winter

Description
Economics Canada in the Global Environment 7e ParkinChapter 29 Fiscal Policy291 Government Budgets1 If revenues exceed outlays the governments budget balance isand the government has a budget A negative deficitB positive surplusC positive deficitD negative surplusE zero deficitAnswerBDiff 1TopicGovernment Budgets2 If outlays exceed revenues the governments budget balance isand the government has a budget A negative deficitB positive surplusC positive deficitD negative surplusE zero surplusAnswerADiff 1TopicGovernment Budgets3 Government debt isA equal to revenues minus outlays B always increasing C a phenomena that occurs only during times of war D the total amount of government borrowing E the result of a rising price level AnswerDDiff 1TopicGovernment Budgets4 All of the following statements are true exceptA total revenues have no strong trends B revenues include corporate income taxes personal income taxes indirect taxes and investment income C the main source of fluctuations in revenues is corporate income taxesD indirect taxes decreased during the 1990s due to the introduction of the GST E total revenues increased through the 1960s and 1980s AnswerCDiff 2TopicGovernment Budgets1 2010 Pearson Education Canada5 All of the following statements are true exceptA the three components of government outlays are transfer payments expenditures on goods and services and debt interest B debt interest has been steadily increasing since 1960 C expenditures on goods and services have a downward trend D outlays increased steadily from 1971 through 1985 E transfer payments decreased sharply during the 1990s AnswerBDiff 2TopicGovernment Budgets6 Choose the correct statementA The federal government debt was 113 percent of GDP in 1945 B The debttoGDP ratio was 18 percent in 1974 C The debttoGDP ration increased dramatically between 1981 and 1986 D The government debt increases when the government has a budget deficit E All of the aboveAnswerEDiff 2TopicGovernment Budgets7 During the 1980s and 1990s in Canada A investment income as a percentage of GDP increased B indirect taxes as a percentage of GDP increased steadily C personal income taxes as a percentage of GDP decreased D total revenues as a percentage of GDP increased by over 5 percent E none of the above AnswerEDiff 2TopicGovernment Budgets8 Between 1981 and 1986 the federal government debt A remained constant B fell substantially C averaged 80 percent of GDP D rose dramatically in value E fluctuated widely in value but exhibited no trend AnswerDDiff 2TopicGovernment Budgets2 2010 Pearson Education Canada
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