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1
What will be the effect on trade of an increase in the Canadian price level?
A)It will increase the volume of both Canadian exports and imports
B)It will decrease the volume of both Canadian exports and imports
C)It will increase the volume of Canadian exports but decrease the volume of imports
D)It will decrease the volume of Canadian exports but increase the volume of imports
2
What is the domestic effect of an increase in the incomes of a country’s major international trading partners?
A)The aggregate demand curve will shift to the right.
B)The aggregate demand curve will shift to the left.
C)The aggregate supply curve will shift to the right.
D)The aggregate supply curve will shift to the left.
3

Refer to Figure 5.24 to answer this question. All of the following, except one, would cause a movement from a to b. Which is the exception?
A)An increase in the price level
B)An increase in wealth holdings
C)An increase in government spending
D)A decrease in the interest rate
E)An increase in foreign incomes
4

Refer to Figure 5.24 to answer this question. Which of the following would cause a movement from point a to point c?
A)A decrease in the price level
B)An increase in wealth holdings
C)An increase in government spending
D)An increase in the interest rate
E)An increase in foreign incomes
5

Refer to Table 5.2 to answer this question. What are the implications if the price level is 100?
A)The price level is above equilibrium.
B)There is a shortage of real output of $250.
C)There is a surplus of real output of $250.
D)There is a surplus of real output of $150.
6

Refer to Table 5.2 to answer this question. If the aggregate quantity demanded falls by $100 at every price level, what will be the new equilibrium price level and real output, respectively?
A)100 and $550
B)105 and $650
C)110 and $650
D)115 and $500





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