Chapters 1 to 7
Chapter 10 to 14
Chapter 15 and 20
Chapters 21 and 24
Chapters 28 and 29
100
The inability of society to satisfy all human wants because of limited resources
What is scarcity
100
A market that has a single firm, no substitutes and barriers to entry
What is a Monopoly
100
Exports minus imports
What is net exports
100
Controls monetary base, exchange rate and short term interest rate
What is the Bank of Canada
100
The largest source of federal government revenue
What is personal income taxes
200
The type of economics that studies the global economy as a whole
What is macroeconomics
200
A type of market where the demand its product is perfectly elastic
What is Perfect Competition
200
The real GDP when there is full employment
What is Potential GDP
200
All employed and unemployed who want work
What is the Labour Force
200
An inflation that starts because aggregate demand increases
What is demand-pull inflation
300
The type of demand (elasticity) in which the consumer is not sensitive to changes in the price
What is inelastic
300
A period of time in which all resources can be varied
What is the long run
300
A market structure in which a small number of firms compete
What is Oligopoly
300
Unemployment that arises from normal labour turnover
What is frictional unemployment
300
an inflation that is kicked off by an increase incosts
What is cost-push inflation
400
The difference between the value of a good or service and the price paid for the good
What is consumer surplus
400
A market structure in which a large number of firms compete by making similar but slightly different products
What is monopolistic competition
400
A set of tools for studying strategic behavior
What is Game Theory
400
Unemployment that arises when changes in technology change the skills needed to do the job
What is Structural unemployment
400
The combination of a rising price level and decreasing real GDP
What is stagflation
500
A tax imposed on imported goods
What is a tariff
500
A firm that can supply an entire market at a lower cost than two or more competing firms
What is a natural monopoly
500
An type of market if there are only two taxi cab companies
What is a duopoly
500
A persistently rising price level
What is inflation
500
The use of the federal budget to achivee macroeconomic objectives
What is fiscal policy
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