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Can you answer the questions on the Macroeconomics Exam Review?

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What is calculated by the cumulative loss in real GDP, expressed as a % of potential output, divided by the % reduction in the inflation rate.
What does a currency do when it has become more valuable?
What is deciding not to work because lack of pay or lack of your specific job called?
What type of run occurs when Real GDP goes up?
Government spending that isn’t included on GDP has no effect on what?
What is any leftward shift in the AS curve that is not caused by excess demand in the markets known as?
What happens to the Canadaian Dollar if we adopt a contractionary monetary policy?
Why is an annually balanced budget bad?
A type of economical conflict between two or more states.
Which way does the A/E curve shift when domestic price level falls?
What is the name for the bond that offers a coupon rate higher than prevailing interest rates.
Measured in constant dollars. Changes only when quantities change.
What country is often associated with cheap labour?
The outstanding stock of financial liabilities for the government , equal to the accumulation of past budget deficits.
What does Canada need to value and price during trading?
The difference between the government’s overall budget deficit and its debt service payments.
What is unemployment resulting from normal turnover in labour market as workers move between jobs?
What does PPP stand for?
The practice of selling a commodity at a lower price in the export market than in the domestic market
An offsetting reduction of private expenditure caused by the rise in interest rates that follow an expansionary fiscal policy.
HintAnswer
All outputs used as inputs by other producers (bricks/cement for houses)
What happens to the unemployment rate during periods of rapid economic growth?
An economic term describing capital flowing out of (or leaving) a particular economy.
A new industry, which experiences difficulty or is incapable of competing with competitors abroad.
The interest rate the Bank of Canada charges commercial banks for loans.
Tariffs are put in place to raise what of the imported products?
What is caused by a positive aggregate demand shock
The portion of money that a bank actually holds as reserves in the form of cash/deposits with the central bank.
What diagram shows conumption and income as equals?
A cyclical balanced budget is over the course of how long?
The situation that exists when a country can produce a good with less forgone output of other goods than another country can.
What do tariffs generate for the government?
What can the goverment do after shock, to reduce cyclical unemployment?
A group of countries that agree to have free trade among themselves and a common set of barriers against imports from the rest of the world.
What is unemployment due to deviations of GDP from Y* called?
The individuals who are not currently working and who are actively searching for a job are known as what kind of workers?
What does NAFTA not impose on imports and exports?
What is represented by the formula: (Y-Y*) ?
Can be interpreted as the amount of import goods an economy can purchase per unit of export goods.
How does the bank validate inflation?

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