Micro
In economics, what do we mostly use to measure value?
Money $$$
Gross Domestic Product
Which Canadian city currently has the highest unemployment rate?
Windsor, Ontario
There is only one bubble tea shop near campus and they charge high prices. What market is that?
Monopoly
What is the term for a general rise in prices across the economy?
Inflation
Which Canadian Prime Minister previously served as Governor of both the Bank of Canada and the Bank of England?
Mark Carney
You buy more ramen when your income drops. What type of good is ramen here?
Inferior good
Who sets the interest‑rate vibes in Canada?
The Bank of Canada
By far, which country remains Canada’s largest trading partner?
The United States
When your favourite cafe raises prices and you still buy the same amount, what does that say about your demand?
Your demand is Price Inelastic
What is a tariff?
a tax placed on imported goods.
What do we call it when China says it will remove or lower a tariff if Canada removes or lowers theirs?
Reciprocal tariff reduction (or “reciprocity”)
Why do landlords near campus raise rent even when the apartments aren’t great?
Because students face inelastic demand due to limited substitutes.
When the central bank lowers interest rates to encourage borrowing and spending across the economy, what type of policy is that called?
Expansionary monetary policy
Where is the annual World Economic Forum held?
Davos, Switzerland