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ECON 1023 WI02 Macroeconomic Principles 2025 Winter

ECON 1023 WI02 Macroeconomic Principles 2025 Winter

Looking for ECON 1023 WI02 Macroeconomic Principles 2025 Winter test answers and solutions? Browse our comprehensive collection of verified answers for ECON 1023 WI02 Macroeconomic Principles 2025 Winter at moodle.acadiau.ca.

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An increase in the marginal social cost of producing bread will most likely cause

A rightward shift in the supply curve for bread

None of the above

An upward shift in the demand curve for bread

A leftward shift in the supply curve for bread.

A rightward shift in the demand curve for bread

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GDP is equal to

The sum of the values of all final goods and services produced during a given year

✅

The ratio of the price level to nominal GDP

❌

Nominal GDP times the price level

❌

The sum of the values of all sales of goods and services during a given year

❌

Consumption plus investment plus net income received from abroad

❌

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If less than the efficient level of output of a product is being produced, then at that lower level of output

MSB is zero since there is too much output of the product being produced

The marginal social benefit MSB is equal to the marginal social cost MSC

MSB is lower than MSC

MSB is higher than MSC

All of the above answers are incorrect because there is not enough information about the consumer surplus

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