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Understanding Economics
Understanding Economics: A Contemporary Perspective, 2/e
Mark Lovewell, Ryerson Polytechnic University
Economic Fluctuations

Internet Application Questions



1

Refer to the most recent issue of Finance Canada's publication The Economy in Brief (at http://www.fin.gc.ca/, access Link to Publications) to find the latest quarterly growth rates in consumption, government expenditures, exports, imports, and the various components of investment spending.
  1. Which of these categories increased the most? Which increased the least, or declined the most?
  2. On the basis of the above answers, which of the four main elements of aggregate demand had the most positive effect on real output? Which element had the least positive (or negative) effect on real output?

 
2

Read Strategy & Business magazine's Interview with Paul Romer, then explain why Romer believes that:
  1. knowledge is subject to increasing returns,
  2. monopolies can easily occur in the knowledge economy,
  3. nonprice competition is common among knowledge goods.

 




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