answer 33 multiple choice questions

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Question 1

The sources of investment spending in Canada…

Question 1 options:

are only private saving

cannot be public saving because government’s run permanent deficit

include foreign saving

are only business retained earnings

Question 2 (3 points)

The monetarist explanation of the Great Depression in Canada argues

Question 2 options:

that money supply during the period was too generous

that “inflation adjusted” interest rates were too low

that money supply was inadequate to support economic growth

could have had no economic impact since it could not be measured

Question 3 (3 points)

The Keynesian explanation for the Great Depression was…

Question 3 options:

based on the development of a “vicious cycle” of declining spending and employment

based on excessive levels of government spending

inappropriate actions by the Bank of Canada

a global trade war

Question 4 (3 points)

During the period between Confederation and the First World War the greatest source of revenue for the federal government came from:

Question 4 options:

Personal income taxes

Corporate income taxes

The GST

Customs and excise duties

Question 5 (3 points)

8.Inflows of foreign capital to purchase Canadian production facilities would be an example of:

Question 5 options:

Direct investment

Portfolio invetment

Foreign transfers

Trade imports

Question 6 (3 points)

The largest number of immigrants into Canada in a single year happened:

Question 6 options:

In 2018

During the Second World War

In the first decade of the 1900s

Immediately following the Second World War

Question 7 (3 points)

Running a current account deficit:

Question 7 options:

Results in foreign capital required to expand investment being unnavailable

Results in some of the capital required to expand investment coming from foreign sources

Results in a reduction in total saving

Is no longer permitted because of NAFTA

Question 8 (3 points)

Which of the following is correct?

Question 8 options:

During the 1930’s Depression Canada’s GDP fell by about 30 percent…in line with the US contraction

During the 1930’s Depression Canada’s GDP experienced only a small contraction compared to the United States

In contrast to US developments, during the depression Canada’s economy actually grew3 modestly.

Question 9 (3 points)

After Confederation, Nova Scotia voted in a provincial government that wanted the province to withdraw from the union

Question 9 options:

True

False

Question 10 (3 points)

Which of the following is true?

Question 10 options:

Although much lower than in the United States, Canada’s female labour force has been rising for decades

Canada’s female labour forces has remain static for many decades

Canada’s female labour force has been rising for many decades and now exceeds that in the US

Question 11 (3 points)

The “international” explanation for the Depression was:

Question 11 options:

A global trade war spurred by US protectionism

A surge in trade as countries attempted to export their way out of economic decline

The establishment in Canada of preferential tariffs allowing imports from the US to rise.

Question 12 (3 points)

The Navigation Acts

Question 12 options:

Required shipments between the USA and Canada to be carried in Canadian vessels

Were a Portuguese measure to help navigation around Africa

Were introduced by Canada after Confederation

Required shipping between Britain and her colonies to be carried in British vessels

Question 13 (3 points)

Measured over 10-year periods in recent decades Canada’s average real GDP has been:

Question 13 options:

Growing at a faster rate

Growing at a slower rate

Growing at a slower rate

Remained unchanged

Question 14 (3 points)

The Ricardian arguments for trade liberalization (free trade) is based on:

Question 14 options:

Specialization in production

Expanded consumption possibilities

Both a and b

Neither a nor b

Question 15 (3 points)

Most people living in Toronto were born outside Canada

Question 15 options:

True

False

Question 16 (3 points)

The American revolution

Question 16 options:

Encouraged Canadian-West Indies trade because the Americans no longer qualified under the British Navigation laws

Raised concern in Britain over the prospect of US northern expansion

Was fuelled by British taxes on the American colonies

All of the above

Question 17 (3 points)

Which of the following are included in Canada’s agricultural “supply management”?

Question 17 options:

Milk eggs and pork

Milk eggs and beef

Milk eggs and chicken

Chicken eggs and rice

Question 18 (3 points)

The Bank of Canada’s policy objective…

Question 18 options:

…is to balance economic growth with low levels of inflation

…is primarily to maintain low levels of inflation

is primarily to stabilize the exchange rate

is primarily concerned with reducing unemployment

Question 19 (3 points)

The US Federal Reserve Board’s policy goals are …

Question 19 options:

primarily to balance economic growth with inflation

primarily to target inflation

primarily to target unemployment

primarily protect the strength of the US dollar

Question 20 (3 points)

Which is most accurate…Halifax once had a flourishing…?

Question 20 options:

Sugar industry

Sugar and cotton industries

Cotton industry

Sugar, cotton and rice milling industries

Question 21 (3 points)

The collapse of British Mercantilism can be linked political reforms in the country

Question 21 options:

True

False

Question 22 (3 points)

At the time of Canadian Confederation, despite being small than Ontario, Nova Scotia had a higher per capita level of economic activity

Question 22 options:

True

False

Question 23 (3 points)

The population of Nova Scotia has been growing rapidly for many years–due larger to rising “natural” birthrates

Question 23 options:

True

False

Question 24 (3 points)

Which of the following is correct…

Question 24 options:

the labour force participation of men in the 60 to 64 age category has been steadily increasing while women in the same category has fallen sharply

the labour force participation of women in the 60 to 64 age category has been steadily increasing while men in the same category has fallen

the labour force participation of both men and women in the 60 to 64 age category has been steadily increasing

the labour force participation of both men and women in the 60 to 64 age category has been steadily falling

Question 25 (3 points)

In 1880 the proportion of the Canadian workforce engaged in agriculture was almost 50 percent today that figure is…

Question 25 options:

about 50%

about 20%

about 15%

about 10%

Question 26 (3 points)

The staple theory of economic growth…

Question 26 options:

attempts to explain the economic development of Canada in terms of its reliance upon imports of natural resources from the US

attempts to explain the economic development of Canada in terms of the development of fish and timber for domestic consumption

attempts to explain the economic development of Canada as an underpopulated territory dependant upon exports of primary products

attempts to explain the economic expansion of Europe as a provider to the emerging North American market

Question 27 (3 points)

Alberta’s bitumen “tar sands” can be classified as prime example of a modern Canadian “staple” good.

Question 27 options:

True

False

Question 28 (3 points)

The purpose of the Canadian fiscal equalization program is to provide Canadians with similar levels of income regardless of what province they live in.

Question 28 options:

True

False

Question 29 (3 points)

In most years, Quebec receives a much higher per capita equalization grants than the three Maritime provinces.

Question 29 options:

True

False

Question 30 (3 points)

Which of the following is correct?

Question 30 options:

In Canada, those over the age of 65 are double the number under 15

In Canada, those over the age of 65 are double the number under 15 under the age of 15 are double the number over 65

In Canada, those over the age of 65 outnumber those under the age of 15

In Canada, those under the age of 15 are slightly more than those over the age of 65

Question 31 (3 points)

A 10 percent increase in Canadian annual immigration would resolve the issue of population aging.

Question 31 options:

True

False

Question 32 (3 points)

When a tariff is imposed on imports to Canada, which of the following is true?

Question 32 options:

The consumer surplus is reduced

Domestic prices rise

Both of the above … but domestic production increases

Both of the above … but domestic production falls

Question 33 (4 points)

The economic consequences of the current COVID-19 pandemic have been likened to the economic conditions during the Depression. Canadian authorities have responded by:

Question 33 options:

Introducing a major fiscal stimulus plan partially offset by a restrictive monetary stance

Leaving fiscal policy unchanged but introducing monetary stimulus

Introducing a major fiscal stimulus plan augmented by an expansionary monetary stance

Leaving recovery up to private market forces.