CIE3M Test 1 Review

Generally speaking, economics examines the choices made in regards to:

In a _____ economy, the state decides how much to produce

In theory, a price floor on corn will cause a(n) ________ of corn

More people are playing hockey. This causes the ______ for hockey sticks to ↑.

On the Production Possibilities Curve, it is assumed that

Which of the following is a macroeconomic issue?

"We need to charge higher college tuition fees " is a _____ statement

When there's a shortage of gasoline, gas stations could ____ ______to bring the market to a new equilibrium

In theory, a price ceiling on apartment rentals will cause a _______ of apartments

The opportunity cost of exercising for 90 minutes could be:

"If EV prices go down, more Canadians will purchase them" is a ________ statement

The only factor that changes quantity demanded and quantity supplied is the _______ of a good or service

The price of hockey sticks ↓ causing the _____ of hockey sticks to ↑

In Canada, "full employment" is achieved when

A poor growing season would cause the _______ of corn to ↓

In a _____ economy, higher taxes allow for better social services

In a _____ economy, communities are capable of building their own homes and producing their own food

Capital does NOT include

There are 12,000 unsold tickets to tonight's Toronto Blue Jays game. This is an example of a ____

The price of hockey sticks ↑ causing the ______ of hockey sticks to ↑