1. A time-series plot may be used to show (check all that apply)

a) Canadian nominal GDP between 1920 and 2020

b)the Canadian inflation rate between 1930 and 1980

c)the Canadian unemployment rate over the last 50 years

d)the index of Canadian real wages between 1990 and 2020

e)Canadian real GDP between 1920 and 2020

f)Canadian population over the last 70 years

Which of the following are correct statements (check all that apply)?

a)The marginal propensity to consume = 1 - the marginal propensity to save

b)The potential output is estimated rather than calculated

c)In the simple Keynesian-cross model that we use in this class, net export is assumed could be an induced part of the desired aggregate expenditure function

d)A simple multiplier in the economy with government and trade is smaller than in a laissez-fair autarky

e)If the government purchases of goods and services exceed the total net taxes, there is a budget surplus

We analyze the time series by paying attention to (check all that apply)

a) cyclical fluctuations

b) a histogram

c) seasonal fluctuations

d) a trend

e) a bar chart

An exercise of comparing the market equilibrium before and after and exogenous variable changes is referred to as

a) Keynesian Cross

b)Comparative Statics

c) Demand analysis

d) Desired purchases

e) An equilibrium dilemma