ECON 1010 Study Guide - Midterm Guide: Output Gap, Potential Output, Market Basket

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16 Oct 2018
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Faculty of liberal arts and professional studies department of economics. ______________________________________: make sure to print your name, student number and sign the sheet above. All questions are multiple choice format: for multiple choice answers, no work needs to be shown. The full marks will be granted if the best answer is circled and zero otherwise: good luck! Choose the one alternative that best completes the statement or answers the question. Use the information below to answer the following questions. The components and robots for toyota auto assembly lines in canada are built in japan. Use the table below to answer the following questions. There are only two goods in this economy. At 2013 prices, the value of production in 2013 was 4 percentage points higher than in 2012. The chained-dollar real gdp is ________ in 2013 than in 2012: 2 percent greater, 4 percent greater, 3 percent smaller, 2 percent smaller, 3 percent greater.